SBI gets central board's nod to raise Rs.14,000 cr via bonds

New Delhi: The country’s largest lender SBI on Monday said its central board has approved a proposal to raise up to Rs 14,000 crore by issuing Basel-III compliant bonds.

The bonds are proposed to be raised in Indian or US currency.”The central board of the bank at its meeting held today on June 21, 2021, accorded approval for raising capital by way of issuance



of Basel III compliant debt instruments in USD and/or INR during FY22,” SBI said in a regulatory filing.

Under this, the bank plans to raise fresh additional tier I capital up to an amount of Rs 14,000 crore subject to the government of India concurrence, it added.