State Bank of India (SBI) did not specify whether the borrowing would be in rupee denomination or foreign currency. Photo: Pradeep Gaur/MintNew Delhi: State Bank of India (SBI) on Wednesday said its board has given nod to raise Rs20,000 crore for financing affordable housing and infrastructure projects through long- term bonds. Shares of State Bank of India (SBI) closed 3.44% higher at Rs306.35 apiece on BSE on Wednesday. Although the real estate sector is facing multi-year slowdown, the affordable housing segment has gained momentum after the government provided infrastructure to it in the last year’s budget. Recently, HDFC Capital Advisors, an arm of mortgage leader HDFC, closed its second affordable housing fund, creating a $1 billion corpus.

Source: Mint January 17, 2018 14:03 UTC