New Delhi

State Bank of India (SBI) on Thursday said its board has approved a proposal to raise up to Rs 60,000 crore in the current fiscal through the issue of debt instruments.

The funds would be raised either in rupee and /or any other convertible currency by issue of debt instruments like long-term bonds, Basel III-compliant Additional Tier 1 Bonds and Basel III compliant Tier 2 Bonds.

The funds would be raised through public offer or private placement mode to Indian and /or overseas investors during FY27, SBI said in a regulatory filing.

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Shares of SBI were trading at Rs 1,040.25, up 1.39 per cent over previous close on BSE.