Syndicate Bank makes interest payments: Syndicate Bank has made an annual interest payment of Rs. 64.65 crore on its Basel III Tier III bonds. It had raised the principal amount of Rs. 750 crore from 12 parties for an interest rate of 8.62%.

The bank had raised additional capital to comply with Basel III norms and had reported a net loss of Rs 1,643 crore the previous year. Its Q2 profit this year had dropped 75% on provisions.