Bank of India Plans Major Infrastructure Investment
The state-owned Bank of India announced plans to raise Rs 20,000 crore via bonds during the current fiscal year to fund infrastructure projects. These bonds, exempt from certain regulatory requirements, are favored over other bond types for better pricing and deployment in development initiatives.
- Country:
- India
State-owned Bank of India (BoI) announced on Thursday its intention to raise Rs 20,000 crore through bond issuance this fiscal year to support infrastructure projects.
The board has given its nod for issuing long-term infrastructure bonds worth Rs 20,000 crore by 2025-26, according to a regulatory filing.
Major banks like SBI have been securing funds through such bonds to specifically further infrastructure development projects, benefiting from exemptions from CRR and SLR, thus allowing full deployment of proceeds for lending activities.
Preference for infrastructure bonds has grown over AT-1 and Tier-2 bonds due to more favorable pricing.
(With inputs from agencies.)
- READ MORE ON:
- Bank of India
- infrastructure
- Rs 20
- 000 crore
- bonds
- fiscal year
- long-term
- development
- CRR
- SLR
- funding
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