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Canara Bank raises Rs just one,012 cr by issuing Basel III bonds

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

The bank has issued and even allotted Basel III agreeable additional tier I bonds amounting to Rs just one,012 crore, it claimed in a regulatory filing.

The bank said it has granted a total of 10,120 non-convertible, perpetual, taxable, subordinated, fully paid up, unprotected bonds carrying coupon level of 8.30 %.

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

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

Basel III best practice norms are being implemented in levels since 2013 by often the Indian banks to reduce concerns on potential pressure on asset quality and even consequential impact on performance and even profitability of finance institutions.

The deadline for the domestic banks to meet these guidelines is usually September 30, 2020.

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

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