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SBI raises Rs 1,251 crore by issuing Basel III-compliant bonds

The bonds with a face value of Rs 10 lakh each bears a coupon rate of 9.45 per cent per annum payable annually with call option after 5 years or any anniversary date thereafter

 
 
The bank is looking to sell all of them on a 100% cash basis, but the actual realisation will, of course, depend on the reserve price and bids from the buyers
The panel is undertaking a comprehensive review of the sector to identify causes and propose long-term solutions for its development, the RBI said in a statement.
The Finance Ministry will soon come out with an advertisement to find a successor to head the Pension Fund Regulatory and Development Authority (PFRDA).
Makhija will replace Sanjiv Misra, whose term as the bank's non-executive (part-time) chairman expires on July 17.
The IDBI Bank now has Rakesh Sharma with three-year tenure to effect a turnaround post the entry of Life Insurance Corporation (LIC) as its new promoter.
The bank issued 6,25,52,188 shares of Rs 10 each to eligible employees, BoI said in a statement.
 
 
According to Reliance Mutual Fund, which is managing the CPSE ETF, the fifth tranche would open for subscription on March 19, for anchor investors.
A part of SBI's digital banking platform, You Only Need One (YONO), the cardless cash withdrawal service will be available across 16,500 ATMs.

The purchase will happen through multi-security auction using the multiple price method.
There is a competition for deposits in the market. The private banks and new payments and small finance banks are offering higher savings rate.
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