SBI to raise Rs 5,000 cr via bonds for affordable housing
Country’s largest lender State Bank of India (SBI) today said it proposes to raise Rs 5,000 crore through long term bonds to fund affordable housing. The proposed bond raising programme aims at funding infrastructure and affordable housing, SBI said in a filing to stock exchanges.
The bank will seek approval of the board for issuance of long term bonds of Rs 5,000 crore for financing of infrastructure and affordable housing in domestic and overseas market, it said.
The bank, however, did not specify whether the borrowing would be in rupee denomination or dollar. The executive committee of the central board is scheduled to have a meeting on January 17, it added.