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Canara Bank raises Rs a single,012 cr by issuing Basel III bonds


NEW DELHI: Canara Bank on Friday said there are raised Rs 1,012 crore by issuing Basel III compliant bonds.

The bank has issued together with allotted Basel III up to date additional tier I bonds amounting to Rs a single,012 crore, it claimed in a regulatory filing.

The bank said it has given a total of 10,120 non-convertible, perpetual, taxable, subordinated, fully paid up, unsecured credit card bonds carrying coupon amount of 8.30 %.

There were a total connected with three allottees to this relationship issuance, said the state-owned lender.

Under the worldwide accepted Basel-III capital rules, banks need to improve together with strengthen their capital preparing processes.

Basel III rules are being implemented in stages of development since 2013 by often the Indian banks to offset concerns on potential anxiety on asset quality together with consequential impact on performance together with profitability of financial institutions.

The deadline for the domestic banks to meet these guidelines will be September 30, 2020.

Canara Bank stock closed from Rs 100.85 with BSE, up 0.55 per cent from previous in close proximity.

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