Indian Bank’s Board has approved raising an additional Rs. 5000 crore in Long-Term Infrastructure Bonds for the financial year 2024-25. This brings the total amount to Rs. 10,000 crore, which will be utilized to finance or refinance infrastructure and affordable housing projects.
The decision was made during a board meeting held on September 26, 2024. The additional bonds, to be issued in one or more tranches during the current or subsequent financial year, will adhere to the guidelines set by the Reserve Bank of India (RBI) and comply with relevant laws and regulations.
These funds aim to support the bank’s ongoing commitment to the growth of infrastructure and affordable housing sectors.
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