Question
SBM Bank (India) has raised ______ through the issuance
of the second tranche of Basel-III compliant tier II bonds in January 2023.Solution
SBM Bank (India) has raised Rs 99 crore through the issuance of the second tranche of Basel-III compliant tier II bonds in January 2023. The bank has raised the entire corpus from Life Insurance Corporation (LIC). With this fresh round of capital raising from multiple investors, SBM Bank India now has raised a total of Rs 224 crore to date through Basel III compliant tier II bonds.
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