STOCK MARKET BSE NSE

SBI to Raise up to Rs 12,000 Crore by Tier-II Bonds

Published: 21st December 2015 10:15 PM  |   Last Updated: 21st December 2015 10:15 PM   |  A+A-

By PTI

NEW DELHI: Country's largest lender State Bank of India (SBI) today said it plans to raise up to Rs 12,000 crore by issuing tier-II bonds on private placement basis.

The Committee of Directors' has authorised the bank to raise up to Rs 12,000 crore by way of "issue of Basel III compliant Tier-II bonds, at par, through private placement", SBI said in a filing to the BSE.

SBI said the amount may be raised in a single or more tranches and the coupon rate on the bonds may be decided at the time to actual issuance.

According to a Fitch Ratings report, Indian banks need USD 140 billion capital to ensure full compliance with the Basel III norms by 2018-19.

The Basel III norms are aimed at bolstering banks' resilience.

Basel III capital regulations are being implemented in India with effect from April 1, 2013 in a phased manner.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

IPL_2020
flipboard facebook twitter whatsapp