Re: Corporation Bank Bond Issue
Corporation Bank is a public sector banking company headquartered in Mangalore, India. The bank has a pan-India presence. Presently the bank has a network of 2,440 fully automated CBS branches, 3,040 ATMs, and 4,724 branchless banking units across the country. The bank has representative offices in Dubai and Hong Kong.
The bonds are negotiable instruments in the nature of Promissory Notes transferable by endorsement and delivery. The bonds constitute direct, unsecured and subordinated obligation of the Bank, subordinate to the claims of all other creditors and depositors of the Banks as regards repayment of Principal and interest by the Bank out of its own funds.
Bonds were allotted in demat form by making arrangement with National Securities Depository Ltd. (NSDL) and Central Depository Services (India) Ltd. (CDSL).
Investors have to deal with the same as per the provision of Depositories Act, SEBI (Depositories and Participants) Regulations,1996 and Bylaws & Business Rules framed by NSDL/CDSL from time to time.
Corporation bank Bond Issue
Answered By StudyChaCha Member
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