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Corporation Bank’s board has approved the raising of Tier I and Tier II bonds in the nature of Perpetual Debt Instrument.
The bank informed BSE on Friday that the board of directors of the bank, which met on November 6, has approved the raising of Tier I bonds in the nature of Perpetual Debt Instrument to the extent of ₹1000 crore and Tier II bonds to the extent of ₹500 crore, (both in one or more tranches) with green shoe option, as per Basel III requirement. This will be subject to regulatory compliance, it added.
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