At meeting held on 15 July 2020
The central board of State Bank of India at its meeting held on 15 July 2020 accorded approval for raising of capital by way of issuance of Basel III compliant debt instrument in USD and/or INR during FY21 as under -Raising fresh Additional Tier I capital up to an amount of Rs 4000 crore subject to GoI concurrence.
Raising fresh Tier II capital up to an amount of Rs 10,000 crore.
To redeem existing Tier II capital bonds of Rs 11,015 crore having call dates in FY21 and replacing the same by fresh Tier II capital bonds of the same amount. This would be over and above Rs 10000 crore referred above.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
