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Indian Bank gets nod to raise Rs 5,000 crore via bonds

30 Jun 2020 Evaluate

Indian Bank’s board has accorded approval to raise Basel III compliant tier-1 and/or tier-2 bonds up to Rs 5,000 crore in one or more tranches in current or subsequent financial years based on the requirement. The Board of Directors of the Bank in the meeting held on June 29, 2020 has accorded approval for the same. 

Indian Bank was established as a part of the Swadeshi movement. The Bank provides a wide spectrum of banking products and services.

Peers
Company Name CMP
State Bank Of India 984.50
PNB 116.80
Bank Of Baroda 232.40
Canara Bank 123.90
Union Bank Of India 177.45
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