Saturday, October 15, 2016

Government wants PSBs to take equity route

The government may soon direct state-owned banks to explore public offering to increase their capital at reasonable rates rather than opting for comparatively costlier bond issues, which could spill over into higher interest rates, a government official said. The development comes at a time when the country's largest bank State Bank of India plans to raise Rs 11,000 crore through additional tier 1 bonds, popularly called AT-1bonds or perpetual bonds.

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