Union Bank of India raises Rs 1,500 cr through Basel-III compliant bonds

Union Bank has raised Rs 1,500 crore by issuing Basel III compliant bonds to investors. The bank has allotted unsecured, subordinated, non-convertible, taxable, perpetual, fully paid-up Basel III compliant additional tier-I bonds in the nature of debentures, aggregating to Rs 1,500 crore. The bonds are eligible for inclusion in the tier-I capital of the bank. To comply with Basel-III capital regulations, banks globally need to improve and strengthen […]

Canara Bank hikes fixed deposit rates by up to 25 basis points

State-owned Canara Bank on Tuesday raised interest rates on fixed deposits across various maturities by up to 25 basis points. The revised rates are effective from March 1, 2022, Canara Bank said in a statement. Interest rate on fixed deposits for tenure 1 year has been increased to 5.1 per cent while for one-two years it is raised to […]