The bonds, set to mature on September 15, 2028, carry coupon rate of over 9.11 per cent payable annually.
The bonds have been rated AAA and AA+ with stable outlook by Care Ratings and Ind-Ra, which means they carry the highest degree of safety on timely servicing of financial obligations.
These norms are being implemented to mitigate concerns on potential stresses on asset quality and consequential impact on performance and profitability of banks.
This will align full implementation of Basel-III in India closer to the internationally agreed date of January 1, 2019.
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