Wait...
  1. Home >
  2. Export Import News >
  3. Foreign Exchange >
  4. State Bank of India plans to raise up to $1.5 billion in FY21

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

State Bank of India plans to raise up to $1.5 billion in FY21


Date: 05-06-2020
Subject: State Bank of India plans to raise up to $1.5 billion in FY21
State Bank of India (SBI) plans to raise upto $ 1.5 billion to  in fiscal year 2020-21, the bank said in a notification to Bombay Stock Exchange (BSE) on June 4.

The executive committee of the central board will meet on June 11 to consider the proposal of "long-term fund raising in single/multiple tranches through a public offer and/or private placement of senior unsecured notes in US dollar or any other convertible currency during FY20-21", the bank said.

The government has not allocated any capital to state-run banks in this year's Budget. Union Finance Minister Nirmala Sitharaman had said banks will be encouraged to tap markets to raise capital on their own.

Public sector banks will need significant capital in view of the likely pressure on asset quality.

Banks will need capital also to resume lending to productive sectors.

Source:- moneycontrol.com

Infodrive India Pvt Ltd

Delhi :
  F-19, Pocket F, Okhla Phase-I
      Okhla Industrial Area

      New Delhi- 110020
   011 - 40703001

Kolkata :
  5th Floor Stesalit Towers,
      E-2-3, EP & GP Block,

      Sector-V, Salt Lake City,
      Kolkata-700 091
   033 - 71177191

INFODRIVE INDIA Copyright © 1996-2020 InfodriveIndia. All Rights Reserved.
Please read our Terms of Use and Privacy Policy before you use.

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+