State Bank of India (SBI) Plans new Scheme to raise Rs. 5000 Cr

The popular public sector bank and financial services company in India, State Bank of India has come up with new scheme to increase Rs. 5000 Crores through insurance of Long-term bonds. It is an Indian multinational corporation which has 14, 000 branches including 191 abroad offices in 36 countries.

However, the latest update is that State Bank of India (SBI) plans to raise Rs. 5000 crore through long-term bonds in domestic and overseas markets to fund infrastructure and affordable housing. SBI said that “Executive committee of the central board of the bank is going to conduct a meeting on 10 November 2016. Inter Alia, to examine and agree for the issuance of long-term bonds of Rs. 5000 crore in domestic and overseas markets for funding of infrastructure and affordable housing during the financial year 2017.

India’s GDP has Grown to 7.6% in 2016 : World Bank

Today shares of SBI were trading 0.28 percent lower at Rs. 252 on BSE. At 11:23 am, shares in SBI were trading 0.93 per cent lower at Rs. 250.35 on the BSE.