The central bank had extended the deadline to September 30, 2016 for new cards issued under the Prime Minister Jan Dhan Yojana and other government schemes.
The funds were raised at a much lower 9.5% average cost, which was about 200 basis points lower than its earlier borrowing cost of 11.5-12%.
The bonds in the nature of non convertible debentures or NCDs will yield 8.55% to 9.15% a year, the company said.
According to RBI, all these entities are essentially engaged in collecting money from public in various guises; some even through potato flexi bonds.
“We plan to open these full-fledged bank branches in the next six to eight months while another 170 existing branches will continue as lending offices,” Equitas Small Finance Bank.
The US dollar lost ground for the second straight session against its leading counterparts after weekend data showed the US economy added fewer jobs than expected in August.
Inflation measured in terms of CPI rose at a faster-than-expected 6.07% rate in August from a year ago, up from June's 5.77%.
Patel was serving as RBI's deputy governor since January 2013 and was in charge of monetary policy. Among his assignments as deputy governor, Patel chaired the Expert Committee to Revise and Strengthen the Monetary Policy Framework.
Before he assumed the role as member of the executive management, he was the chief executive officer at HDFC Sales Pvt Ltd.
The negative interest rate policy adopted by Japan and some European countries in the last decades has failed, too.
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