The Basel-III norms are aimed at bolstering
According to a Fitch Ratings report, Indian banks need USD 140 billion capital to ensure full compliance with the Basel-III norms by 2018-19. The PSU lender on Monday had said it was planning to raise up to Rs 12,000 crore by issuing tier-II bonds on private placement basis. Shares of SBI were trading at Rs 228. The Committee of Directors' authorised the bank to raise up to Rs 12,000 crore by way of "issue of Basel-III compliant tier-II bonds, at par, through private placement," it had said.33 per cent per annum coupon and with call option after 5 years, aggregating to Rs 4,000 crore on private placement basis," SBI said in a filing to the BSE.The Basel-III norms are aimed at bolstering banks' resilience. However, State Bank of India did not elaborate on the usage of proceeds.41 per cent tilting pad bearings manufacturers from its previous close.
The Basel-III norms are aimed at bolstering banks' resilience. New Delhi: Country's largest lender State Bank of India (SBI) on December 24, said it has raised Rs 4,000 crore by issuing tier-II bonds on private placement basis under the Basel-III norms. "The bank on December 23, 2015 issued 40,000 Basel-III compliant tier-ll bonds in the nature of debentures of face value of Rs 10,00,000 each at par with 10-year tenure, bearing 8.95 apiece on the BSE, down 0. Basel-III capital regulations are being implemented in India with effect from April 1, 2013 in a phased manner.