Indian banks raise 12 bln rupees via CDs

Indian banks raised 12 billion rupees through Certificates of Deposit (CDs) on Wednesday, Thomson Reuters data showed.Corporation Bank raised 10 billion rupees in two tranches. It sold 5 billion rupees of six-month notes carrying a coupon rate of 5.10 percent and another 5 billion rupees of one-year notes at 6.10 percent. IDBI Bank sold 500 mn rupees each of 6.35 percent and 6.45 percent one-year notes to two state-run banks.State Bank of Mysore, an associate of the country's largest lender, State Bank of India sold 1 billion rupees of 6 percent one-year notes to a local mutual fund. Volumes in the secondary CD market rose to 6.25 billion rupees from 6.1 billion rupees on Monday.