Comments
Karur Vysya Bank on Wednesday said it has raised Rs 487 crore through Basel-III compliant bonds to fund its growth plans.
The Capital Raising Committee of the board in its meeting on March 12 allotted 48,700 BASEL-III compliant unsecured, redeemable, non-convertible tier-II bonds in the nature of debenture of Rs 1,00,000 each aggregating to Rs 487 crore, the bank said in a regulatory filing. The capital was raised on private placement basis, it said.
The instrument will be listed on NSE.
Basel III is an international regulatory framework with a set of reforms to improve the regulation, supervision and risk management within the banking sector. To comply with global Basel-III capital regulations, banks need to improve and strengthen their capital planning process.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.