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Indian Bank board sanctioned Rs 1,100 cr via bonds

Indian Bank board sanctioned Rs 1,100 cr via bonds

Public sector Indian Bank told its board has sanctioned increasing Rs 1,100 crs through Basel-III complaint tier-II or additional tier-I bonds.

The Indian Bank will increase the sum in one or more tranches in the current or subsequent years based on the requirement, Indian Bank told in a BSE filing. A meeting of the Board of Directors was held today to sanction the capital raising plans of the bank, it contributed.

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