On Tuesday, the State Bank of India (SBI), the country’s largest lender by assets, announced that its board has decided to raise funds through the issuance of infrastructure bonds worth up to ₹10,000 crore in the 2023 financial year.
The State Bank of India (SBI) has announced its intention to raise infrastructure bonds up to a value of Rs. 10,000 crore through either a public issue or private placement during the 2023 financial year. In December of the previous year, SBI successfully raised ₹10,000 crore through its first infrastructure bond issue.
The Reserve Bank of India (RBI) has stated that the SBI Bank, ICICI Bank, and HDFC Bank continue to be designated as Domestic Systemically Important Banks (D-SIBs), which are financial institutions considered “too big to fail” and expected to receive government support during times of financial distress. D-SIBs are perceived as enjoying certain funding advantages due to this expectation of support. SBI and ICICI Bank were originally designated as D-SIBs in 2015 and 2016, respectively, while HDFC Bank was added to the list based on data from March 31, 2017.
On Tuesday, SBI’s shares were trading at ₹613.55 each on the NSE, an increase of 0.22%.
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