The Bank of Baroda's board approved the loan to raise up to 5,000 crore through long term bonds and other debt instruments during the financial year 2022 -- 2023.
In its regulatory filing, the Bank of Baroda said the board approved the proposal of raising long term bonds for the financing of Infrastructure Affordable Housing to the tune of Rs. During the Financial Year 2022 -- 23 there were 5000.00 crores in single or multiple tranches. The lender said that these bonds would not form part of the bank's capital.
The Bank of Baroda shares closed on Monday at Rs 100.05 apiece, or 0.10 per cent, higher than the Bank of Baroda.
The Bank of Baroda recently announced a change in its marginal cost of funds-based lending rates in response to the Reserve Bank of India's RBI announcement of an increase in repo rates to combat inflation. In the month of June, the bank hiked its MCLR rates by 10 - 20 bps across all loan tenures.