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India's DCB Bank to raise up to 3B rupees of debt

India's DCB Bank Ltd. proposed to raise up to 3 billion rupees worth of Tier 1 and Tier 2 capital in one or more debt issues.

The bank said that it also plans to raise its borrowing limit to 32 billion rupees.

The bank's shareholders will meet June 2 to consider the proposals.

As of May 7, US$1 was equivalent to 67.18 Indian rupees.