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IndusInd Bank to issue 10B rupees of debentures

IndusInd Bank Ltd. plans to issue 10 billion rupees worth of Basel III-compliant Additional Tier 1 bonds in the nature of debentures.

The bank said April 5 that the debentures will be issued on a private placement basis. The plan is subject to approval from the bank's board.

As of April 5, US$1 was equivalent to 64.97 Indian rupees.