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

According to the country’s largest lender, SBI, its board has approved raising Rs 8,000 crore through various sources, including masala bonds, to meet Basel III capital norms.

Masala bonds are rupee denominated specialised 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.
Static/Current Takeaways Important for IBPS Clerk Mains 2017 Exam-
  • SBI Chairman- Rajnish Kumar, Headquarters- Mumbai, Established on- 1st July 1955.

Source- The Economic Times