ICICI Home Finance, the housing finance arm of the largest private sector bank in the country, on Thursday began selling subordinated bonds to raise Rs 100 crore.
The latest move was taken by the company to meet its fund requirements.
According to company official, the amount is being raised as subordinated debt and carries a coupon rate of 9.75 per cent, payable annually. The issue will close on April 20.
ICICI Securities Primary Dealership, ICICI Bank and IDFC-SSKI are reported as arrangers to the deal.
Punjab National Bank (PNB), India’s second largest public sector bank, has entered into an alliance with four brokerage firms, including Networth Stock Broking and SMC Global Securities, to strengthen its online securities trading services. 
That there is an apparent slide in deposit rates has become all the more obvious with two of India’s leading public sector banks – State Bank of India (SBI) and IDBI Bank – slashing their deposit rates, with the revised rates taking effect from April 13. The state-owned IDBI Bank also intends cutting its yardstick prime lending rate (BPLR) from April 15 onwards. 
Riga - The European Bank of Reconstruction and Development (EBRD) confirmed Tuesday that it will buy a quarter stake in nationalised Latvian bank Parex.
London - Britain's troubled Royal Bank of Scotland (RBS) Tuesday announced 9,000 job losses in addition to 2,700 staff cuts already planned for this year following its emergency bail-out by the government last October.
Zurich - The Swiss banking giant UBS was preventing some 1,000 of its wealth management personnel from leaving the country owing to legal concerns, local media reported Sunday.
