NABARD to issue 1-year CD - traders

India's National Bank for Agriculture and Rural Development (NABARD) plans to raise funds by selling certificates of deposit maturing in one year, three merchant bankers said on Thursday.

The state-run company will offer a yield of 7.72% on the issue, for which it has received commitments worth around 39 billion rupees ($479.53 million) so far, the bankers added.

The notes are rated A1+ by ICRA.

($1 = 81.3300 Indian rupees)