Karnataka Bank has raised Rs 300 crore and allotted unsecured, subordinated, redeemable non-convertible, fully paid-up Basel III Compliant Tier 2 bonds in the nature of Debentures of face value of Rs 10 crore each on private placement basis. The Committee of Directors of Board of the bank has approved and allotted the same on March 30, 2022.
Karnataka Bank operates as a private sector bank. Its products and services include current account, demand, time, cumulative, cash certificates, insurance linked savings bank deposits, resident foreign currency accounts and senior citizens deposit schemes.
