PFC lists green bond on LSE

London: Power Finance Corporation (PFC) has listed its first international bond in almost two decades on the London Stock Exchange (LSE) to fund renewable energy projects in the country. The 10-year dated green bond raised $400 million, paying a 3.75 per cent semi-annual coupon and listed on the LSE’s new International Securities Market this week. “The funds raised will help promote renewable energy projects in the country and aid in achieving the government's target of 175GW of installed renewable energy capacity by 2022," said PFC chairman Rajeev Sharma. PTI

Advertisement

PNB raises deposit rate by 0.5%

New Delhi: Following the footsteps of the country's largest lender SBI, Punjab National Bank (PNB) on Thursday raised interest rate on bulk deposit of over Rs 1 crore by 0.5 per cent. The rate hike comes days ahead of the RBI's fifth bi-monthly policy on December 6. The PNB has increased interest rates on domestic bulk term deposits of Rs 1 crore and above from 4.5 per cent to 5 per cent on deposits of 1 year and above. The new rates will be effective December 1, the PNB said. Yesterday, the SBI announced raising interest rate on bulk deposits by 1 percentage point across select maturities. PTI