Mumbai: The Central Board of the State Bank of India (SBI) on Wednesday approved the raising of up to Rs 25,000 crore through bonds in the financial year 2020-21.
In a regulatory filing, the bank said that it has approved the "raising of capital by issuance of Basel III compliant debt instruments in USD and/or INR during FY21."
The fund raising would include fresh Additional Tier 1 (AT 1) capital up to an amount of Rs 4,000 crore and raising of fresh Tier 2 capital up to an amount of Rs 10,000 crore.
The board also approved "to redeem existing Tier 2 capital bonds of Rs 11,015 crore having call dates during FY21 and replacing the same by raising fresh Tier 2 capital bonds of the same amount".
Maharashtra Revises Rules For 1% Orphan Reservation; Priority For Children Raised In State-Recognised Institutions
Mumbai News: Notorious Drug Supplier 'Golden Bhura' Back In Custody As ANC Probes Fresh Mephedrone Trail
Mumbai Crime News: Woman Accuses Vikhroli Advocate Of Rape And Professional Misconduct; Bar Council Complaint Filed
Mumbai Climate Week: Children Collect 350 Bags Of Plastic In Prabhadevi & Juhu Beach Cleanup
