State Bank Of India To Raise Rs 10,000 Crore Through Tier I Bonds
NDTV
Last week, SBI had announced that its personal banking advances, excluding high value home loans, have crossed the Rs 5 lakh crore-mark.
State Bank of India (SBI) on Wednesday said its board has approved Rs 10,000 crore capital raising plan through Tier I bonds.
The fund raising through Additional Tier 1 (AT1) capital up to an amount of Rs 10,000 crore is subject to Government of India concurrence, the bank said in a regulatory filing.
The Central Board accorded an approval for raising capital by way of issuance of Basel III compliant debt instrument in INR and/or any other convertible currency, up to FY24, it said.
The fund would help the bank grow its loan book.
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