ING Vysya Bank sells 2 bln rupees of CDs
MUMBAI, Oct 30 (Reuters) - ING Vysya Bank (VYSA.BO: Quote, Profile, Research) on Friday raised 2 billion rupees through certificates of deposit maturing on May 10, 2010, at a coupon of 5.2 percent, Thomson Reuters data showed.
The yield on the Reuters benchmark 3-month CD <0#INCDBMK=> eased to 3.50 percent, from Thursday's 3.55 percent, and secondary volumes rose to 4.50 billion rupees from 4.20 billion rupees on Thursday.
On Tuesday, the Reserve Bank of India (RBI) raised the statutory liquidity ratio (SLR), or the proportion of deposits banks have to hold in approved government securities, by 100 basis points to 25 percent while keeping all other rates unchanged. [ID:nDEL485971]
The move sent Indian bond yields down across the board.
The RBI also laid the groundwork for a rise in interest rates by tightening credit to the commercial property sector, lifting its inflation forecast and warning of the threat of asset price bubbles. [ID:nDEL485971] (Reporting by Anurag Joshi; Editing by Harish Nambiar)
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