The State Bank of Travancore said on Saturday it plans to raise up to Rs 600 crore through issue of additional "Tier I bonds" by the way of private placement.
The bank informed the BSE that the executive committee of its board of directors approved the proposal at a meeting held on Saturday.
The State Bank of Travancore is proposed to be merged with the State Bank of India (SBI), along with four other associate banks.
--IANS
ppg-rv/vm
Disclaimer: No Business Standard Journalist was involved in creation of this content