Corporation Bank drops plan to raise Rs 200 crore from bond issue

In view of certain unforeseen developments, Corporation Bank has withdrawn its plan to raise Rs 200 crore from bond issue under Basel II or III with immediate effect.

Recently, the bank announced that it was planning to raise Rs 200 crore through issue of Unsecured Innovative Perpetual Non-convertible Tier-I Bonds in the nature of Promissory Notes on private placement basis

Corporation Bank has been serving millions of customers since 1906. With over 6000 service outlets overseas, it is one of the premier public sector banks in India.