Question
Which public sector bank has raised ₹3,090 crore worth
of funds through the sale of 15-year tier-II bonds & has planned a bond sale with a base size of ₹1,000 crore and a green shoe option of ₹3,000 crore?Solution
Punjab National Bank raised ₹3,090 crore worth of funds through the sale of 15-year tier-II bonds. The public sector bank had planned a bond sale with a base size of ₹1,000 crore and a green shoe option of ₹3,000 crore. Meanwhile, financial institution Small Industries Development Bank of India (SIDBI) raised ₹3,000 crore through the sale of bonds maturing in September 2026 at a rate of 7.55%.
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