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SBI to raise Rs 2,000-cr through bonds

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Mumbai, Feb 24 (UNI) State Bank of India (SBI) is contemplating to raise about Rs 2,000 crore from the domestic market through the issuance of subordinated bonds in the next financial year, according to Chairman A K Purwar.

The capital will be utilised to finance the growing business of the India's largest commercial bank.

''Our balance sheet is growing heavily at 30 per cent... We need to raise good amount of capital (for further growth), '' Mr Purwar said.

UNI GC RSY VKG1203

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