State bank of india approved to raise up to 20 thousand crore rupees by issuing long-term bonds in the Financial Year 2025 for funding infrastructure projects and affordable housing units. The Central Board at its meeting held today said that the fundraising will be done through a public issue or a private placement. Following the announcement of the new bond issuance plan, SBI’s share were ended 0.95 percent up at rupees 853 as compared to its last closing price.

Earlier this month, SBI raised 100 million dollar through its London branch by selling three-year senior unsecured floating-rate bonds that were sold at a spread of 95 basis points above the secured overnight financing rate (SOFR). Meanwhile, in January SBI raised 5000 crore rupees through perpetual bonds at an 8.34% coupon rate.