New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Bank of India raised Rs 2,000 crore in capital through

    Basel III-compliant Tier-II bonds. What is the maturity period of these bonds, which have a 'AA+' rating from CRISIL?
    A 5 years Correct Answer Incorrect Answer
    B 7 years Correct Answer Incorrect Answer
    C 10 years Correct Answer Incorrect Answer
    D 15 years Correct Answer Incorrect Answer
    E 20 years Correct Answer Incorrect Answer

    Solution

    Bank of India has raised Rs 2,000 crore in capital via Basel III-compliant Tier-II bonds to comply with regulatory norms and fuel business growth. The bonds were issued with a coupon rate of 7.88 per cent. These Tier-II bonds, which have a 'AA+' rating from CRISIL, have a 10-year maturity period.

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