State Bank Of India

State Bank of India (SBI) has received approval to allot 6,000 Basel III compliant Non-Convertible, Taxable, Perpetual, Subordinated, Unsecured, Fully Paid-up Debt instruments in the nature of debentures qualifying as AT 1 Capital of the Bank of face value of Rs. 1 crore each, at par, bearing a coupon of 7.72% p.a. payable annually, aggregating to Rs 6,000 crore, to Bond subscribers. The board of directors at its meeting held on October 18, 2021 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.