The South Indian Bank Limited informed that the meeting of the Board of Directors of The South Indian Bank Limited ('Bank') was held on January 16, 2020. The Board approved the issuance of unsecured, perpetual, non-convertible, Basel III compliant, Tier I bonds not exceeding INR 5,000 million, in one or more tranches, with or without green shoe option ('Bonds'). The Bonds are being issued on a private placement basis to augment the Bank's Tier I capital, on such terms as the Board or Board approved committee may deem fit, subject to applicable regulatory approvals, if any.