State Bank Of India Signs MoU With UK's FCDO For Rs 8,102 Crore

The State Bank of India has signed a non-binding Memorandum of Understanding with the UK's Foreign, Commonwealth and Development Office for Rs 8,102 crore. Both FCDO and SBI will collectively invest matched contributions of Rs 4,052 crore equivalent over a pre-agreed timeline, as per an exchange filing on Wednesday.

On July 1, SBI achieved a significant milestone with its sixth infrastructure bond issuance, raising Rs 10,000 crore at a coupon rate of 7.36%.

The issuance, aimed at enhancing long-term resources for infrastructure and affordable housing segments, garnered immense investor interest.

Shares of the State Bank of India closed 1.15% lower on Wednesday, compared to a 0.27% decline on the NSE.