About US | Contact Us
SC refuses to stay CBI probe against cops for firing during anti-Sterlite protests..
Farmers are being looted: Pawar on low onion prices..
SC dismisses PIL against FM Arun Jaitley..
Screening of Kedarnath banned in 7 districts of Uttarakhand..
UN launches new framework to strengthen fight against terrorism..
Shaw injury woes for India on day 3 of tour game..
'Daredevil' cancelled by Netflix ..
IOB plans to raise up to Rs 300 cr bonds..
Farmers begin march towards Parliament from Ramlila Maidan; 3,500 cops deployed..
NPAs are results of previous Cong-led govt's misdeeds: Shah..
G20: PM Modi meets Saudi Crown Prince Mohammed bin Salman..
Sara Ali Khan is going to make a big impact, says Soha..
Sumanta Chaudhuri takes charge as coal secretary..
LeT terrorist involved in Shujaat Bukhari's assassination killed in J-K..
 
Opinion Poll

Loading...

 
IOB plans to raise up to Rs 300 cr bonds

Public sector lender Indian Overseas Bank (IOB) Friday said its board has approved raising up to Rs 300 crore on a private placement basis through globally accepted Basel III complaint bonds.


"The board of directors of the bank, have by circular resolution... approved the raising of tier II capital by issue of tier II Basel III compliant bonds for an issue size of Rs 200 crore with green shoe option of additional Rs 100 crore aggregating Rs 300 crore in one or more tranches on a private placement basis," Indian Overseas Bank said in a regulatory filing.

To comply with Basel-III capital regulations, banks globally need to improve and strengthen their capital planning processes.

These norms are being implemented to mitigate concerns on potential stresses on asset quality and consequential impact on performance and profitability of banks.

Indian banking system has been implementing Basel III standards in phases since April 1, 2013. The banks are expected to fully implement these norms by March 2019.

This will align full implementation of Basel III in India closer to the internationally agreed date of January 1, 2019.

Shares of Indian Overseas Bank were trading 1.03 per cent lower at Rs 14.35 apiece on BSE.

 
 
           
 
Copyright © 2016. nwztoday, Bhubaneswar, Odisha. All rights reserved.   Powered by: nwztoday