SBI will raise up to Rs 3 Bn via long-term bonds

21 Jun 2024 CW Team

In the current fiscal year, the bank has already declared its intention to raise up to $3 billion in long-term financing from the global market through the private placement and public offering of senior unsecured notes denominated in US dollars or any other significant foreign currency. AAA credit rating with a stable outlook is attributed to the infrastructure bonds that SBI previously issued by domestic credit rating agencies. The regulatory reserve requirements, such as the cash reserve ratio (CRR) and the statutory liquidity ratio (SLR), do not apply to the proceeds from infrastructure bonds. You can use the whole amount for lending activities. Banks would be required to retain 4.5% of the total sum as CRR with the Reserve Bank of India if they were to raise equivalent amounts through deposits. In order to maintain SLR, they must also invest around 18% of their income in securities. SBI stated in its FY24 annual report that the government increased the amount allotted to capital expenditures from Rs 10 trillion in FY24 to Rs 11.11 trillion in the current fiscal year. The National Monetization Pipeline (NMP), Performance-Linked Schemes (PLI), and the National Infrastructure Pipeline (NIP), which has targeted investments of $1.4 trillion, are just a few of the measures the Indian government has launched to boost the economy. New initiatives are driven by the need to build up infrastructure on a large and sustainable scale, particularly in sectors such as renewable energy, roads, and city gas distribution. Investments in India?s key infrastructure sectors?rrenewable energy and roads?and real estate in FY25 and FY26 are pegged to grow about 38% over the previous two financial years to Rs 15 trillion, according to CRISIL Ratings.

Real Estate

26 Jun 2026

Manglam Group to Develop Sheraton Hotel in Jaipur

Manglam Group has signed an agreement with Marriott International to develop a Sheraton hotel on the Jaipur–Ajmer Highway in Jaipur. The project will feature 220 keys and is being developed with an investment of around Rs 3.5 billion across more than 300,000 sq ft.The hotel marks Manglam Group’s third collaboration with Marriott International and forms part of its Rs 10 billion hospitality investment roadmap. The agreement was signed by Amrita Gupta, Director, Manglam Group and CEO, Manglam Spa and Resorts, and Rajeev Menon, President, Asia Pacific excluding Greater China, Marriott Interna..

India Warehousing Show 2026 opens at YashoBhoomi

India's warehousing, logistics, and supply chain ecosystem came together as the 15th edition of India Warehousing Show (IWS) 2026 opened at YashoBhoomi, India International Convention & Expo Centre (IICC), Dwarka, New Delhi on June 25 (Thursday). Organised by RX India, the three-day event will run from 25-27 June 2026, bringing together policymakers, industry leaders, technology providers, and supply chain professionals under one roof. It also features a two-day knowledge conference that will run alongside the exhibition. Inaugurated by Pankaj Kumar, Joint Secretary - Logistics, DPIIT..

Platinum Corp Launches Bespoke Presidential Suites

Platinum Corp has launched Platinum Stellar: Bespoke Presidential Suites, a luxury residential project on Main Avenue in Santacruz, Mumbai. The project has been positioned as a boutique, design-led development for high-net-worth individuals, business owners and legacy residents from the Bandra-Khar-Santacruz belt.The project has been developed in collaboration with celebrity interior designer Sussanne Khan and follows a design-first approach inspired by Art Deco architecture. It incorporates refined detailing, spacious layouts, premium material palettes and arrival experiences planned to creat..