Bank of India raises ₹10,000 crore via infrastructure bonds
Bank of India raised ₹10,000 crore via infrastructure bonds at 7.23% coupon, oversubscribed at ₹15,305 crore. Union Bank cut home loan rates to 7.15%, effective 18 Dec 2023, potentially boosting retail lending.
pre-market1 source ↓written by the desknot a recommendation
- through long-term infrastructure
- ₹10,000 crore
- coupon
- 7.23%
- with bids totaling
- ₹15,305 crore
- home loans
- 7.15%
- vehicle loans
- 7.50%
Bank of India raised ₹10,000 crore through long-term infrastructure bonds at 7.23% coupon, with bids totaling ₹15,305 crore. The funds will support infrastructure and affordable housing projects as per RBI guidelines.
Union Bank of India also announced a reduction in retail loan rates, cutting home loans to 7.15%, vehicle loans to 7.50%, and personal loans to 8.75%, effective 18 Dec 2023. These moves may enhance lending activity in the sector.
Not investment advice. For informational purposes only.