Bank of India raises Rs.3,000 crore by Basel-III compliant bonds

New Delhi, Jan 1 (IANS) Bank of India said on Friday that it has raised Rs.3,000 crore by issuing Basel-III compliant tier-II bonds.

“Bank of India has informed BSE that it has raised Rs.3,000 crore by issue of Basel-III compliant tier-II bonds. The coupon rate is 8.52 percent and tenor is 10 years,” the state-run lender said in a stock exchange filing.

The Basel-III capital norms, put in place to safeguard banks following the 2008 US financial crisis, is being implemented in phases from April 1, 2013, and is to be fully implemented by March 31, 2019.

Finance Minister Arun Jaitley has allocated Rs.7,940 crore in the budget in this fiscal for the recapitalisation of public sector banks.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of or any employee thereof. is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here