New Delhi, Dec 7 (PTI) State-owned Bank of Maharashtra (BoM) on Wednesday said it has raised Rs 348 crore from bonds to fund business growth.

The lender raised the funds through private placement of Basel-III compliant tier II bonds, BoM said in a regulatory filing.

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The paper of face value Rs 1 crore each carries a coupon rate of 8 per cent, it added.

The bonds will be listed on the Wholesale Debt Market segment of the BSE.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)