State Bank Of India Gains After Board Approves Raising Rs 14,000 Crore

Shares of the country's largest lender by assets - State Bank of India - rose as much as 1.6 per cent to hit an intraday high of Rs 426.30 after its central board approved raising Rs 14,000 crore via debt instruments in dollar and rupee terms during the current financial year. The bank will be raising capital by issuing Basel lll compliant debt instruments, State Bank of India said in an exchange filing.