State Bank of India (SBI), the top lender in the nation by assets, announced on Tuesday that its board has discussed borrowing money through infrastructure bonds of up to 10,000 crores during the fiscal year 2023. Today was the scheduled day for the Executive Committee of the Central Board of the State Bank of India to discuss.
According to a report, the money will be useful for credit expansion, and SBI would not be required to have any required cash reserve or liquidity ratios for the money earned through such bond issuances.
SBI raised 10,000 crores through its first infrastructure bond offering in December of last year.
This news was written by Ms. Pujari Dharani, Research Assistant, All India Legal Forum.