Federal Bank has received an approval to raise funds worth Rs 1000 crore through the issuance of Unsecured Basel III compliant Tier-II Subordinate Bonds in the nature of Debentures, on a private placement basis to certain eligible investors permitted to invest in the NCDs under applicable laws. The Board of Directors of the Bank at its meeting held on March 18,2023, has approved the same.
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.