India’s biggest bank, SBI, plans to raise ₹20,000 crore this year.
It will do this by issuing Basel III–compliant Tier 1 and Tier 2 bonds.
The move is aimed at boosting capital and meeting regulatory norms.
These bonds will be offered to domestic investors only.
SBI may also raise ₹25,000 crore via QIP soon.
After the news broke, SBI shares rose nearly 2% in the market.
Investors welcomed the move as a sign of growth and stability.
It also shows SBI is gearing up for future financial challenges.