<\/p>\n
The bank issued \u201cnon-convertible, redeemable Basel III<\/a> compliant tier II bonds\u201d with Rs 10 lakh each having a coupon rate of 7.25% p.a. There were a total of 9940 bonds and thereby aggregating Rs 994 crore.<\/p>\n The bank also mentioned that the issue opened on July 27 and closed on July 29 and a total of 17 allottees were allotted under the issue.<\/p>\n \u201cThe bank has issued and allotted Rs 994 crore tier-II (Basel III Compliant) capital bonds at a coupon of 7.25% p.a. on a private placement basis,\u201d said the bank in a regulatory filing.<\/p>\n Banks need to upgrade their capital planning process in order to comply with Basel III regulations. These norms are being carried out to diminish the potential risk on asset quality and thereby raising the bank\u2019s profitability and performance. Since 2013, Indian Banking<\/a> System has been implementing Basel III standards and banks are expected to fully implement these norms by March 2020, reported by PTI.<\/p>\n<\/div>\n<\/div>\n <\/p>\n