SBI to raise Rs 3,300cr via bonds

The executive committee of the central board (ECCB) of State Bank of India (SBI), which met yesterday, approved a proposal to raise unsecured and rated domestic and international sub-ordinated debt by way of bonds not exceeding Rs 3,300 crore.

According to a release issued by the bank to the BSE today, the bonds will have a maturity of over 60 months, and funds will be raised by private placement as may be decided by the chairman of the bank.