SBI to mop up Rs 5,000 crore via bonds during FY20

State Bank of India (SBI) will raise up to Rs 5,000 crore by issuing Basel III-compliant bonds. The executive committee of central board at its meeting held on May 29, 2019 accorded approval to raise Basel III-compliant tier-II bonds up to Rs 5,000 crore in USD/INR to be issued to overseas and/or Indian investors during FY20, through a public offer/private placement.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.