State Bank of India (SBI) is planning to raise up to Rs 10,000 crore via infrastructure bonds during the current quarter ending March 2023. Infrastructure bonds are long-term, fully paid, redeemable and unsecured financial instruments, with a minimum maturity period of __________ years.

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  1. five
  2. three
  3. one
  4. two
  5. seven

Answer (Detailed Solution Below)

Option 5 : seven
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The correct answer is 'seven'.

Key Points

  • State Bank of India (SBI) is planning to raise up to Rs 10,000 crore via infrastructure bonds during the current quarter ending March 2023.
  • The country’s largest lender may float a public offering of these bonds or place them privately, the bank said in a filing with the BSE.
  • In December 2022, it had raised Rs 10,000 crore through a maiden issue of 10-year infrastructure bonds carrying a coupon of 7.51 per cent.
  • The infrastructure bonds are exempt from computation of net demand and time liabilities (NDTL). Therefore, they are not subject to cash reserve ratio (CRR) and statutory liquidity ratio (SLR) requirements.
  • Apart from infrastructure projects, the money can also be used for loans to affordable housing ventures.
  • Infrastructure bonds are long-term, fully paid, redeemable and unsecured financial instruments. The minimum maturity period for these bonds is seven years.

Additional Information

  • State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra. 
  • The bank descends from the Bank of Calcutta, founded in 1806 via the Imperial Bank of India, making it the oldest commercial bank in the Indian subcontinent. 
  • Bank  Tagline: " Pure Banking, Nothing Else"
  • SBI Chairman: Dinesh Kumar Khara
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