MUMBAI, March 23 (Reuters) - India's Punjab National
Bank plans to raise funds through a sale of
certificates of deposit maturing in three months, three merchant
bankers said on Thursday.
The state-run lender will offer a yield of 7.40% on the
issue, and has received commitments worth around 5 billion
rupees ($60.8 million) so far, the bankers said.
The notes are rated A1+ by Crisil.
($1 = 82.2490 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Varun H K)
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