State Bank of Bikaner & Jaipur (SBBJ) has received board’s approval for augmentation of capital by way of issue of Basel III compliant, unsecured, redeemable, non-convertible, subordinated Bonds for inclusion in Tier II capital aggregating to Rs 217 crore on private placement basis.
SBBJ is one of the five Associate Banks of SBI and has operations primarily in Rajasthan, with presence at all important centres in the country. Being an SBI Associate, SBBJ derives significant benefits from its use of State Bank brand name and logo, access to an extensive branch network including the ATM network and sharing of systems like the credit risk-rating model, treasury management and information technology (IT) systems with the parent.
