New Delhi: Public sector lender Indian Bank will raise Rs5,000 crore to support loans for infrastructure as well as affordable housing.

The bank’s board of directors will take up the proposal to raise money at its meeting to be held next week. “A proposal for issue of long term bonds for financing of infrastructure and affordable housing up to an amount of Rs5,000 crore will be taken up for approval... On 5 May, 2017," Indian Bank said in a regulatory filing.

The bank’s stock closed 0.49 per cent up at Rs320 on the BSE.