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Axis Bank plans to issue 35B rupees of debentures

Axis Bank Ltd. plans to raise 35 billion Indian rupees via an issuance of unsecured subordinated Additional Tier 1 debentures.

The issuance of the Basel III-compliant debentures is subject to approval from the bank's board, according to a Dec. 12 release

As of Dec. 12, US$1 was equivalent to 67.42 Indian rupees.