Indian banks on Wednesday raised 50.1 billion rupees via certificates of deposit (CDs), Thomson Reuters data showed, a day ahead of the central bank's mid-quarter policy review.
Most economists expect India's central bank to raise key policy rates by a further 25 basis points at its mid-quarter review on Sept 16, a new Reuters poll of 22 analysts showed on Tuesday.
Corporation Bank raised 10 billion rupees by selling notes yielding 7.24 per cent and maturing on Dec. 13, 2010.
Punjab National Bank sold 7 billion rupees of 7.23 per cent notes maturing Dec. 13, 2010.
Indian Bank sold 5 billion rupees of 7.55 per cent notes maturing Jan. 5, 2011.
Central Bank of India sold 5 billion rupees of 7.25 per cent three-month notes.
Punjab & Sind Bank raised 5.25 billion rupees in two tranches. It sold 3.5 billion rupees of 7.55 per cent notes maturing Jan. 5, 2011, and 1.75 billion rupees of 8.05 per cent one-year notes.
State Bank of Patiala sold 4 billion rupees of 7.945 per cent one-year notes.
State Bank of Travancore raised 3 billion rupees in two equal tranches of 7.15 per cent notes maturing Dec. 16, 2010, and 7.945 per cent one-year notes.
ING Vysya Bank sold 3 billion rupees of 7.40 per cent notes maturing Dec. 28, 2010.
Bank of Maharashtra sold 2.5 billion rupees of 7.55 per cent notes maturing Jan. 3, 2011.
State Bank of Mysore sold 2 billion rupees of 7.145 per cent three-month notes.
United Bank of India sold 1.5 billion rupees of 7.55 per cent notes maturing Jan. 10, 2011.
Federal Bank sold 1 billion rupees of 7.32 per cent notes maturing Dec. 15, 2010.
The yield on the three-month Reuters CD benchmark eased to 7.25 per cent on Wednesday from Tuesday's 7.30 per cent, and secondary volumes rose slightly to 5.75 billion rupees from 5.6 billion rupees.
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