:::::SRI S.B. RODE, OUR BELOVED PRESIDENT, AICBOF AND OFFICER DIRECTOR ON THE BOARD OF CENTRAL BANK OF INDIA HAS BEEN COOPTED AS GENERAL SECRETARY, AICBOF IN E.C. MTG. HELD AT MUMBAI ON 24.02.2014:::::MR. S.C. GUPTA, GEN. SECRETARY OF OUR AHMEDABAD UNIT HAS BEEN COOPTED AS PRESIDENT, AICBOF::::::WE CONGRATULATE THEM AND WISH THAT THE OFFICERS' MOVEMENT IN CENTRAL BANK OF INDIA WILL BE TAKEN TO NEW HEIGHTS:::::LONG LIVE CBOA:::::LONG LIVE AICBOF::::::LONG LIVE AIBOC:::::

SBI MAY RAISE $1 BN THROUGH BONDS BY SEPT

State Bank of India is understood to be raising $1 billion (about Rs 4,500 crore) from overseas markets through bonds, for which it has appointed six lead arrangers -- including HSBC and Citibank. The money would be raised by the end of September as part of the Medium Term Note programme.

The money raised will be used to finance the bank’s business expansion in overseas countries, including Europe and US.

Besides this, the bank plans to raise Rs 200 crore from the domestic market through the issuance of bonds to retail investors in the first half of this fiscal. Usually, bonds are offered to institutional investors because of the large ticket size.

At the same time, SBI is also looking at mopping up Rs 20,000 crore through a rights issue. The issue may come up by this fiscal-end as the bank is currently in talks with the government over the issue.

The government holds about 59 per cent stake in SBI.

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