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Jun 22, 2012, 06.01 PM IST
Private sector Axis Bank today said the board has given approval for raising resources via bonds to fund business growth.
However, the bank did not specify the quantum of fund to be raised during the current year.
The board of the bank at its meeting held today has approved borrowing or raising funds by issue of debt instruments on private placements basis within the limits prescribed by RBI in one or more tranches, the bank said in a BSE filing.
"Accordingly, as per the business plan for the year, the bank proposes to raise the funds in domestic and or overseas market, eligible for inclusion in Tier-I and Tier-II capital," it said.
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