SBI Cards to raise Rs 2,000 crore via bonds

SBI Cards and Payment Services Ltd (SBI Card) on Friday said it has received the board's nod to raise up to Rs 2,000 crore by issuing bonds.

"The board of directors of the company, at its meeting held today (Friday), has approved raising of funds by way of issuance of non-convertible debentures (NCDs) aggregating to Rs 2,000 crore," it said in a regulatory filing.

The company said it will raise the money in one or more tranches over a period of time.

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