State Bank Of India News : SBI plans to raise two billion dollars from bonds

The country's largest bank SBI plans to raise $2 billion through bonds. He gave this information on Wednesday. State Bank of India said its board of directors is scheduled to meet next week to consider raising $2 billion through public issue of bonds or other means.

In the information given to the stock exchanges, SBI said that the executive committee of its central board has a meeting on May 10, in which the proposal will be considered. The stock of SBI closed at Rs 479.60 with a loss of 2.27 percent on BSE on Wednesday.

SBI chief Dinesh Khara has termed the move to increase the repo rate and CRR by the Reserve Bank on Wednesday as a move to help the market. Dinesh Khara said that the Reserve Bank's sudden increase in the cash reserve ratio (CRR) along with the policy rate shows the flexibility of the central bank. He said that this will support the market.Chief Dinesh Khara underlined the RBI's move as an advance action to tackle the problem.

RBI Governor Shaktikanta Das had released a video message in which he talked about the six-member rating panel that met off-schedule and increased the repo rate by 0.40 per cent and the cash reserve ratio by 0.50 per cent.