State Bank of Travancore to raise Rs 600 crore

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

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