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Indian Bank board approves plan to raise Rs 5,000 crore via bond

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India’s leading public sector bank, India Bank on Monday said, “It plans to raise about Rs 5,000 crore through issuance of bonds.”

In a filing at the exchange, Indian Bank said, “The board of directors in its meeting accorded approval to raise Basel III compliant tier-1 and/or tier-2 bonds up to Rs 5,000 crore in one or more tranches in current or subsequent financial years based on the requirement.”

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