Federal Bank has received approval from its board of directors to raise up to Rs 700 crore by issuing bonds on a private placement basis. The bonds will be allotted to certain eligible investors permitted to invest in NCDs under the applicable laws.
Federal Bank is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches and ATMs spread across different States in India. It offers personal, corporate, NRI, SME banking, online banking services to its customers.