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Our Bureau

Mangalore, Sept. 28

The Investment Information and Credit Rating Agency (ICRA) of India Limited has awarded `A1+' rating for Certificate of Deposit programme of Karnataka Bank Ltd.

A bank release said here on Thursday that the rating indicates highest credit-quality rating assigned by ICRA to short-term debt instruments. Instruments rated in this category carry the lowest credit risk in the short term. Within this category, certain instruments are assigned the rating of `A1+' to reflect their relatively stronger credit quality, it said.

The bank, which is eyeing a business turnover of Rs 25,000 crore for 2006-07, is all set to open its 400th Branch at Bangalore-HSR Layout on October 5, the release added.

More Stories on : Fixed Deposits | Credit Rating

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