SBI gets nod to raise fund of Rs 11000 crore in FY23
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State Bank of India (SBI) has received approval for raising capital of Rs 11000 crore by way of issuance of Basel III compliant debt instrument in USD/INR and/or any other convertible currency during FY23. The bank will raise fresh Additional Tier 1 (AT1) Capital up to an amount of Rs 7,000 crore, subject to Govt. of India concurrence and also will raise fresh tier 2 capital up to an amount of Rs 4,000 crore. The bank’s board has approved the same at their meeting held on July 20, 2022.
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.
