Bank Of India has successfully concluded a major fundraising exercise through a bond issuance, raising ₹100 billion from the capital markets. The public sector bank accepted bids at a coupon rate of 7.23% per annum.

Strong Investor Response

The bond issue received a strong response from investors, with the bank receiving total bids worth ₹153.05 billion against the target amount of ₹100 billion. This represents an oversubscription, indicating investor interest in the bank's offering.

Capital Market Access

The completion of this fundraising exercise demonstrates Bank Of India's ability to access the capital markets. The coupon rate of 7.23% per annum reflects the terms at which the bank was able to secure this funding.

Strategic Implications

This capital raising initiative will contribute to the bank's financial position and provide resources for its operations. The investor interest, as evidenced by the oversubscription, suggests market participation in the bank's bond issue.

The fundraising comes as banks focus on their capital base to support lending activities and address regulatory requirements. The bond issuance adds to Bank Of India's financial resources for its business objectives.

State Bank of India has announced the extension of Managing Director Ashwini Kumar Tewari's tenure following an official government notification. The bank disclosed this development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, on December 17, 2025.

Government Re-appointment Notification

The Department of Financial Services, Ministry of Finance, Government of India issued Notification No. 2/1/2025-BO.I dated December 16, 2025, officially re-appointing Ashwini Kumar Tewari as Managing Director. The re-appointment was made in exercise of powers conferred by clause (b) of section 19 read with sub-section (1) of section 20 of the State Bank of India Act, 1955.

Extension Details

The key parameters of the tenure extension are outlined below:

Tewari's current term was scheduled to end on January 27, 2026, but the government has now extended it till his superannuation date of December 31, 2027. The extension provides continuity in leadership for the country's largest public sector bank.

Regulatory Compliance

State Bank of India has fulfilled its disclosure obligations by providing details required under SEBI master circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The bank submitted the necessary documentation along with a copy of the government notification to both BSE Limited and National Stock Exchange of India Limited.

Leadership Continuity

The tenure extension ensures leadership stability at State Bank of India during a crucial period for the banking sector. Tewari will continue in his role as Managing Director, providing strategic direction and operational oversight for the bank's operations across India and internationally. The re-appointment reflects the government's confidence in his leadership capabilities and the bank's performance under his guidance.