MUMBAI: India's Housing Development Finance Corp is planning to raise at least 3 billion rupees (USD53.45 million) via three year bonds at a yield of 9.85 percent, two sources with direct knowledge of the matter said on Thursday.   

Axis Bank is the sole arranger to the deal, said the sources.   

The bank was incorporated in August 1994 in the name of 'HDFC Bank Limited', with its registered office in Mumbai, India. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995.


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