IndusInd Bank to issue 1-year CD - traders

India's IndusInd Bank INDUSINDBK plans to raise funds through sale of certificates of deposit maturing in one year, three merchant bankers said on Thursday.

The private lender will offer a yield of 7.85% on the issue and has received commitments worth around 10 billion rupees ($122.83 million), the bankers said.

The notes are rated A1+ by CRISIL.

($1 = 81.4120 Indian rupees)