SBI to raise Rs 50,000 crore in FY24 through debt instruments
SBI board has accorded approval for raising funds in INR or any other convertible currency by issue of debt instruments including, "but not limited to Long Term Bonds, Basel III compliant Additional Tier 1 Bonds, Basel III compliant Tier 2 Bonds, up to an amount of Rs 50,000 crores through private placement mode to Indian and/or Overseas investors during FY24...".
SBI's March quarter net profit zoomed nearly 90 per cent to Rs 18,094 crore on a consolidated level. Image: Reueters