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Karnataka Bank gets nod to raise Rs 400 crore via Bonds

Karnataka Bank has received an approval for allotment of 40,000 rated, unsecured, redeemable, non convertible, Basel III compliant, lower Tier 2 subordinated bonds (Series V) in the nature of debentures (the NCDs) bearing a face value of Rs 1,00,000 lakh each, at par to the investors identified by the Committee pursuent to the resolution of the Committee dated November 15, 2018 to Rs 400 crore.

The Capital Augmentation Committee of Board of the Bank at their meeting held on November 16, 2018, approved the same.

Karnataka Bank operates as a private sector bank. Its products and services include current account, demand, time, cumulative, cash certificates, insurance linked savings bank deposits, resident foreign currency accounts and senior citizens deposit schemes.

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