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Indian banks raise Rs 2,695 cr via CDs

HDFC Bank raised Rs 2,195 crore in two tranches. It sold Rs 1,695 crore of three-month notes yielding 3.50 per cent and 5 billion rupees of 5.28 per cent one-year notes.

IDBI Bank sold Rs 200 crore of 5.40 per cent one-year notes.

State Bank of Hyderabad sold Rs 200 crore of 5 per cent notes maturing Aug. 20, 2010.

Axis Bank sold Rs 100 crore of 5.46 per cent one-year notes.

The yield on the Reuters benchmark 3-month CD was unchanged at Monday's 3.50 per cent, and secondary volumes rose to Rs 610 crore from Rs 275 crore the previous session.

Indian banks had issued Rs 1,250 Crore of CDs on Monday.

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