SBI Gets Board Approval to Raise Rs 8,000 crore to Comply Basel III

Posted on:29 Dec 2017 09:42:55
SBI Gets Board Approval to Raise Rs 8,000 crore to Comply Basel III
29 December 2017 Current Affairs: According to the country's largest lender, SBI, its board approved raising Rs 8,000 crore through various sources, including masala bonds, to meet Basel III capital norms.

Masala bonds are rupee denominated specialized debt instruments that can be floated in overseas markets only to raise capital.

Banks in India have to comply with the global capital norms under Basel III by March 2019, three months later than the internationally agreed time frame by January 2019.

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