Indian Bank raises Rs 2000 crore for infrastructure & affordable home loans

homeloanBy Accommodation Times Bureau


Public sector lender Indian Bank declared on September 22, that it has raised Rs 2,000 crore to finance the infrastructure and affordable housing . The amount raised through issuing long term bonds is part of the bank’s Rs 5,000 crore fund raiser plan to finance infrastructure and affordable housing in the country.

“The board of directors …on September 21, 2017 accorded approval for issuance of 7 year long term bonds amounting to Rs 2,000 crore in tranches out of the Rs 5,000 crore,” the bank said in a regulatory filing.

In the month of  May, earlier this year, Indian Bank had informed about board’s approval to raise Rs 5,000 crore for the specified purpose.

‘Housing for All by 2022’ – is one of the ambitious projects of the government, and to provide affordable housing to all is a dream project of our government. Boosting infrastructure is another key area that has been accorded key priority, Indian Bank had said.

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