GLOBAL WOES HIT BANKS' FUND-RAISING PLANS

The turmoil in the international market has made it difficult for Indian Banks to raise money overseas. Bank of Baroda has already decided to put its overseas bond issue on hold while Bank of India is yet to decide whether to go ahead with its issue.


After SBI successfully raised $750 million through the issue of medium-term notes in October last year, many Indian banks were also inspired to raise money overseas. Bank of Baroda had planned to raise $500 million while Bank of India is looking at raising $300-500 million. Incidentally, even Axis Bank had to postpone its issue.


Source: http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/finance/Global-woes-hit-banks-fund-raising-plans/articleshow/5540564.cms