In a parallel move, banks are making a beeline to list subordinate debt papers raised over the last few years in the form of Tier II capital.
The Reserve Bank of India and the Securities Exchange Board of India have given the PSUs time till March 31 next year to list privately placed unlisted paper.
Banks are allowed to have up to 10 per cent of their total portfolio in unlisted securities and an additional 10 per cent in pass through certificates of asset reconstruction companies and mortgage backed securities.
