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RBL Bank raises 3.3B rupees in bond issuance

India's RBLBank Ltd. raised 3.3 billion Indian rupees through the issuance ofBasel III-compliant Tier II bonds to U.K.-based development finance institutionCDC Group Plc.

The debt will support the bank's businesses and help itexpand to new regions within India, according to a Sept. 27 press release.

As of Sept. 27, US$1 was equivalent to 66.54 Indianrupees.