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SBI gets nod to raise Rs 8,000 crore through various sources

28 Dec 2017 Evaluate

State Bank of India (SBI) has received its board’s approval to raise Rs 8,000 crore through various sources, including masala bonds, to meet Basel III capital norms. The bank has time limit until March 2018 to raise the funds. Banks in India have to comply with the global capital norms under Basel III by March 2019, three months later than the internationally agreed time frame by January 2019. The company’s board gave approval for the same at its meeting held on December 27, 2017.

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.

Peers
Company Name CMP
State Bank Of India 940.65
PNB 115.50
Bank Of Baroda 234.10
Canara Bank 117.20
Union Bank Of India 172.95
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