State Bank of India (SBI) has raised Rs 4000 crore through Basel III compliant Non- convertible, Taxable, Perpetual, Subordinated, Unsecured, Fully Paid –up Debt instrument in the nature of debentures qualifying as AT 1Capital of the Bank, of face value of Rs 10 lakh each, at par, bearing coupon of 7.74%p.a. annually with call option after 5 years or anniversary date. The board of directors at their meeting held on September 9, 2020 has approved and allotted the same.
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.
