Banks eye foreign shores for Basel-III capital

......... senior official from the Reserve Bank of India (RBI) said some Indian banks are looking at issuing Basel-III compliant tier-I bonds abroad. “They may raise overseas first because the environment exists. Here, nobody is very sure,” said Chandan Sinha, chief general manager, RBI. He said banks were yet to finalise a quantum. These bonds are fairly new for global investors too although there have been a few issuances. This month, Singapore-based DBS Bank tested the market with Basel-III compliant tier-I securities of SGD 800 million. The bonds were oversubscribed, indicating investor demand remains solid..............

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