SBI is India’s largest lender raising Rs 10,000 crore through infrastructure bonds. | Rare Techy


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SBI will consider raising Rs 10k crore through infra bonds

The fundraising, if approved, would be through a public issue or private placement in 2023, the bank added.

State Bank of India logo.  Credit: Reuters file photo

State Bank of India, the country’s largest lender, said on Thursday it would consider raising funds by issuing Rs 10,000 crore in infrastructure bonds.

The executive committee of the bank’s central board will meet on November 29 to review the fundraising, which will also include a green option of 50 billion rupees, the bank said in a stock exchange filing.

The fundraising, if approved, will be through a general issue or a specific location during fiscal 2023, the bank added.

Analysts said in September that Indian banks are likely to continue their liquidity squeeze in the next few months by issuing cash, including infrastructure bonds, as they rush to meet rising credit demand and keep funding at cheaper rates. .

According to data from the Reserve Bank of India, in the 14 days ending on November 4, the credit growth of Indian banks was 17 percent compared to last year.

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