State Bank Of India

State Bank of India (SBI) has received an approval to raise Rs 8,931 crore and allot 89,310 Basel III compliant Non-convertible, Taxable, Redeemable, subordinated, Unsecured, Fully Paid-up Debt instruments in the nature of debentures qualifying as Tier 2 Capital of the Bank, of face value of Rs 10 lakh each, at par bearing a coupon of 6.80% p.a payable annually for a tenor of 15 years with a call option after 10 years or any anniversary date thereafter aggregating to Rs 8,931 crore to Bond Subscribers. The committee of directors for capital raising at its meeting held on August 21, 2020 has approved 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.