State Bank of Bikaner to raise Rs 200cr

New Delhi, Jan 24: State Bank of Bikaner&Jaipur today said it will raise Rs 200 crore Tier I capital by private placement of Innovative Perpetual Debt Instruments (IPDI).

The bank has obtained the necessary approval from the Board of Directors.

It hiked its Prime Lending Rate to 12 per cent per annum from 11.5 per cent per annum from January 9.

The bank has also increased interest rates on domestic term deposits of maturity period 180 days to less than one year by 0.50 per cent to 7.25 per cent.

UNI