Indian banks raise 7 bln rupees via CDs

MUMBAI, Nov 3 (Reuters) - Indian banks on Tuesday raised 7 billion rupees via Certificates of Deposit, Thomson Reuters data showed.

Oriental Bank of Commerce (ORBC.BO) raised 5 billion rupees by selling one-year notes yielding 5.78 percent.

Punjab & Sind Bank raised 1 billion rupees via three-month notes yielding 3.55 percent.

United Bank of India raised 1 billion rupees via 3.52 percent three-month notes.

The yield on the Reuters benchmark 3-month CD <0#INCDBMK=> rose to 3.55 percent from Friday's 3.50 percent, and secondary volumes rose to 4.55 billion rupees from 4.50 billion rupees on Friday.

The market was shut on Monday for a local holiday.

On Friday, ING Vysya Bank was the sole issuer of CDs, raising 2 billion rupees.

For the week to Oct 30, total CD issuance amounted to 46.25 billion rupees, compared with 21.5 billion a week earlier, while secondary volumes were 22.9 billion rupees versus 12.9 billion rupees.

A total 107.25 billion rupees of CDs were issued in October, compared with 238.9 billion in September, while October secondary volumes were 96.6 billion rupees versus 71.55 billion. (Reporting by Jeanette Rodrigues; Editing by Sunil Nair)