The board of directors of Indian Bank has approved raising an additional ₹5,000 crore through long-term infrastructure bonds.

This is over and above the ₹5,000 crore already raised in the current fiscal, the public sector lender said in a regulatory filing.

The amount will be raised in one or more tranches during the current or subsequent financial year based on the requirement for financing/refinancing of infrastructure and affordable housing in compliance with applicable RBI guidelines and other applicable laws, rules and regulations.

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