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Canara Bank to raise up to 18B rupees via bonds

Canara Bank will raise up to 18 billion Indian rupees through the issuance of Additional Tier 1 bonds in one or multiple tranches.

The bank said Dec. 12 that its board approved a plan to raise funds to maintain a healthy capital-to-risk-weighted-assets ratio during the year.

As of Dec. 12, US$1 was equivalent to 64.56 Indian rupees.