SBI board approves raising up to Rs 10,000 cr via infra bonds during FY23

State Bank of India, country's largest lender, said on Tuesday its board approved raising funds through the issue of infrastructure bonds worth up to Rs 10,000 crore during FY23.

"The Executive Committee of the Central Board of the Bank at its Meeting held today i.e., 03.01.2023, inter alia accorded approval for raising Infrastructure Bonds during FY23 as under: “Raising Infrastructure Bonds up to an amount of Rs. 10,000 crores through a public issue or private placement, during FY23"," said the lender in a stock exchange filing. 

At 1515 hours on Tuesday, SBI's scrip on BSE was trading flat at Rs 612.80. 

Last month, SBI had announced that its personal banking advances, excluding high value home loans, have crossed the Rs 5 lakh crore-mark.

The country's largest lender took a year to book the last Rs 1 lakh crore of advances, as against over 15 months for the previous Rs 1 lakh crore and over 30 months for the Rs 1 lakh crore before that.