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| JK Bank raises Rs 750 million | | | AGENCIES
Mumbai, May 12: Jammu & Kashmir Bank on Tuesday raised Rs 750 million via Certificates of Deposit (CDs), Thomson Reuters data showed.
It sold one-year notes carrying a coupon rate of 6.25 percent to banks.
The yield on the Reuters benchmark three-month CD <0#INCDBMK=> rose to 3.55 percent from Monday's 3.5 percent, and volumes in the secondary CD market rose to 3.2 billion rupees from 1.55 billion rupees on Monday.
A total of 1.5 billion rupees of CDs were issued on Monday.
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