CURRENT AFFAIRS

Detailed explanation-1: -State Bank of India (SBI) is planning to raise up to Rs 10, 000 crore via infrastructure bonds during the current quarter ending March 2023. The country’s largest lender may float a public offering of these bonds or place them privately, the bank said in a filing with the BSE.

Detailed explanation-2: -By investing in infrastructure bonds, subscribers enjoy a steady income over a long period of time. It is also noteworthy that these instruments are being issued by bellwethers like SBI, Bank of Baroda and ICICI Bank, which provides a comfort to investors while parking money, say experts.

Detailed explanation-3: -10, 000 crores through a public issue or private placement, during FY23, ‘’ SBI said. In December last year, SBI had raised ₹10, 000 crore through its maiden infrastructure bond issue. In November 2022, SBI Chairman Dinesh Kumar Khara had said that the lender expects credit growth of 14%-16% in the current fiscal.

Detailed explanation-4: -MUMBAI-The State Bank of India has approved raising another Rs 10, 000 crore through infrastructure bonds this quarter to fund credit growth, an official at the nation’s largest lender said on Tuesday.