Indian Bank to Raise Rs 10,000 Cr for Infrastructure
By Rediff Money Desk, New Delhi Sep 26, 2024 20:14
Indian Bank's board approves raising Rs 5,000 crore via long-term infrastructure bonds, adding to the Rs 5,000 crore already raised in FY25.
New Delhi, Sep 26 (PTI) State-owned Indian Bank on Thursday said its board has approved raising of Rs 5,000 crore through long-term infrastructure bonds to finance projects.
The board approved raising of additional long-term infrastructure bonds aggregating up to Rs 5,000 crore over and above Rs 5,000 crore already raised by the bank in FY25, the bank said in a regulatory filing.
It would be done in one or more tranches during the current or subsequent financial year based on the requirement for financing/refinancing of infrastructure and affordable housing in compliance with applicable RBI guidelines and other applicable laws, rules and regulations, it said.
The board approved raising of additional long-term infrastructure bonds aggregating up to Rs 5,000 crore over and above Rs 5,000 crore already raised by the bank in FY25, the bank said in a regulatory filing.
It would be done in one or more tranches during the current or subsequent financial year based on the requirement for financing/refinancing of infrastructure and affordable housing in compliance with applicable RBI guidelines and other applicable laws, rules and regulations, it said.
Source: PTI
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