New products for RIB investors
By Our Banking Bureau | 20 Jun 2003
Kolkata:
State Bank of India (SBI) has decided to work out
new products to retain a section of those who had invested
in Resurgent India Bonds (RIB), which are expected to
mature in the near future.
The
bank hopes to keep back around 30-40 per cent of the outgo
which, inclusive of interest, is slated to stand at around
Rs 26,000 crore, says SBI chairman A K Purwar. "We
are looking at
ways to attract a sizeable number of RIB investors. This
will be done with the help of certain new products, the
details of which have not been finalised."
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