State Bank of India (SBI) . Image Source: IANS News

Mumbai, July 10 : The State Bank of India (SBI) on Friday said that its Central Board will meet on July 15 to consider raising funds through bonds.

In a regulatory filing, the bank said, its board will "seek approval for raising of Additional Tier 1 (AT 1) and Tier 2 Capital by way of issuance of Basel-III compliant debt instrument in USD and/or INR during FY 21" Several banks, both private and public, are looking at raising funds of late.

On Wednesday, the board of ICICI Bank approved a proposal to raise Rs 15,000 crore through fresh equity.

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