Question: Recently, of how much amount of long-term fund raising program, was approved by the Executive Committee of the Central Board of Directors of SBI?
(a) $ 1.5 billion
(b) $ 2 billion
(c) $ 2.5 billion
(d) $ 3 billion
Answer: (b)
Related Facts:
- In January 2018, the Executive Board of the Central Board of State (SBI) approved the program to raise the long-term fund for a two billion dollar amount.
- Under this clearance, the country’s largest bank State Bank of India plans to raise $ 2 billion by issuing bonds in US Dollar or any other convertible foreign currency.
- This amount will be mobilized in one or more installments.
- According to the bank, this amount will be collected during the financial year 2017-18 and 2018-19.
Reference:
http://www.thehindubusinessline.com/money-and-banking/sbi-plans-to-raise-2-bn-via-overseas-bonds/article10019382.ece
http://www.moneycontrol.com/news/business/announcements/state-bank-of-india-outcome-of-board-meeting-2477583.html