MUMBAI, March 14 (Reuters) - India's Punjab National Bank plans to raise funds through the sale of certificates
of deposit maturing in three months, three merchant bankers said
on Tuesday.
The state-run lender will offer a yield of 7.48% on the
issue, and has received commitments worth around 25 billion
rupees ($303.55 million) so far, the bankers said.
The notes are rated A1+ by CRISIL.
($1 = 82.3600 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sohini Goswami)
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