SBI to raise Rs 50k cr in FY24

Mumbai: State Bank of India (SBI) on Friday said it will raise up to Rs50,000 crore through debt instruments from Indian as well as overseas markets in the current fiscal.The decision in this regard was taken by the central board of the bank, the country’s largest lender said in a stock exchange filing.

SBI board has accorded approval for raising 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, up to an amount of Rs50,000 crore through private placement mode to Indian and/or Overseas investors during FY24.”