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Bank of India is going to raise up to Rs 1,000 crore on a private placement basis through issue of additional tier-I bonds which are complaint with globally accepted Basel III standards.
Bank of Indian has said in a regulatory filing that “The bank is in process of raising Basel-III complaint additional tier-1, perpetual bonds – Series 4, for an amount of Rs 500 crore with a green shoe option of Rs 500 crore, aggregating Rs 1,000 crore by private placement.”
