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SBI to Raise Rs. 8,000 cr for Basel III Compliance
December 29, 2017
Public sector State Bank of India (SBI) has obtained the board’s approval to raise Rs. 8,000 crores from domestic and/or international markets to comply with the Basel III capital norms.
SBI said that it has until March 2018 to raise the funds which could be accomplished through masala bonds, i.e. rupee-denominated debt instruments that are issued for the international markets for the raising of capital.
The majority of Indian banks are required to comply with the Basel III norms by March 2019.
