OBC plans to raise Rs 500cr as Tier II Capital

New Delhi, Apr 9 (UNI) Oriental Bank of Commerce (OBC) today said it intends to raise Rs 500 crore by issuing Lower Tier II Bonds on private placement basis at an appropriate time.

After public sector banks State Bank of India and Bank of Baroda hiked interest rates last week, OBC along with Bank of India, Dena Bank, Canara Bank, Syndicate Bank and Corporation Bank is expected to take a call on their rates this week.

UNI