SBI board gives green light to raise up to Rs 50,000 crore

9 Jun 2023 , 02:39 PM

The public sector lender, State Bank of India’s board has approved to raise up to Rs 50,000 crore through debt instruments in the current financial year. The bank can raise funds in INR or any other convertible currency by issue of debt instruments including but not limited to Long Term Bonds, Basel III compliant Additional Tier 1 Bonds, Basel III compliant Tier 2 Bonds, upto an amount of Rs 50,000 crores.

The bank has received approval to issue bonds and raise funds through private placement mode to Indian and/or overseas investors during FY24, subject to the government approval, whenever required.