The country’s largest lender, State Bank of India (SBI), plans to raise up to Rs 10,000 crore through additional tier - 1 (AT1) bonds until March 2024, to support business growth.
SBI in a filing with the BSE said the central board of the bank at its meeting on Wednesday green-lit the fundraise via the Basel III-compliant debt instrument in rupee and/or any other convertible currency up to FY24. This fundraising would be subject to the Government of India's concurrence, SBI said.
According to SBI executives, the bank would look to raise this capital before March and the issuance would