State-run Bank of India has said it would raise about Rs 7,360 crore through bonds to meet its future capital requirements and credit growth. The bank said it would raise resources through bonds to meet capital requirements and credit growth at ?appropriate time? from the domestic market.
The money would be raised through different instruments, a statement said.
The bank?s board has already given its approval to raise Tier I and Tier II capital, the statement added. But, the bank has not given any time frame for raising money.
TS Narayanasami, chairman and managing director of the bank, told FE that the money would be raised through subordinated debts in the domestic markets. However, Narayanasami maintained that his bank was in comfortable position at the moment and hence there was no need to go for money raising in immediate future. The bank will be announcing its first quarter results on July 28.
