BANKS RAISE RS 38 BN VIA CDS

Indian banks on 23^rd raised 38 billion rupees via certificates of deposit (CDs).

Central Bank of India raised 10.75 billion rupees by selling three-month notes yielding 7.19 percent. 
Canara Bank raised 8.25 billion rupees in two tranches. It sold 5 billion rupees of 7.095 percent three-month notes and 3.25 billion rupees of 7.10 percent three-month notes.

Andhra Bank raised 5 billion rupees in three tranches of three-month notes. It sold 2 billion rupees each of 7.19 percent and 7.20 percent notes and 1 billion rupees of 7.18 percent notes.

Allahabad Bank sold 5 billion rupees of 7.19 percent three-month notes.

ING Vysya sold 5 billion rupees of 7.30 percent three-month notes.

State Bank of Bikaner and Jaipur sold 3 billion rupees of 7.85 percent one-year notes.

State Bank of Mysore sold 1 billion rupees of 7.85 percent one-year notes.

The yield on the three-month Reuters CD benchmark <0#INCDBMK=> was steady at Friday's 7.15 percent, and secondary volumes fell to 1.25 billion rupees from 7.65 billion rupees on Friday.

Indian banks had issued CDs worth 14.25 billion rupees on Friday.

For the weekt to Aug. 20, total CD issuance amounted to 41.5 billion rupees compared with 33.4 billion rupees a week earlier.

Source: http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/banking/Banks-raise-Rs-38-bn-via-CDs/articleshow/6421727.cms