State-owned Bank of India on Wednesday said its board has given approval to raise Rs 10,000 crore through long-term infra bonds to fund infrastructure projects.
The fund would be raised in 2024-25, BoI said in a regulatory filing.
Recently, many banks including SBI have issued infrastructure bonds to secure funds that are solely dedicated to advancing various infrastructure development projects.
These bonds help in building roads, bridges, airports, power plants, and telecommunications networks etc and addressing the infrastructure deficit of the country.
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