On December 14, 2022, SBI announced an increase in fundraising after approving BOD up to Rs 10,000 crore through the issuance of a Basel III-compliant debt instrument.

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The bank’s central board has approved raising capital by issuing Basel III-compliant debt instruments in INR and/or any other convertible currency up to FY24. Additional Tier 1 (AT1) to raise a fund of Rs 10,000 crore subject to GOI (Government of India).

The bank has financial services statutory body. At the second quarter’s end, the stake held by GOI was 57.52% stake in the bank. On a consolidated basis, SBI’s net profit reported a 73.93% jump to Rs 13,264.52 crore on a 14.22% rise in total income to Rs 88,733.86 crore in the second quarter of FY23 over the second quarter of FY22.

On the Bombay Stock Exchange (BSE), SBI hit a high of 0.62 % to Rs 629.45.