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Bank of India to raise Rs 10,000 cr via infra bonds

State-owned Bank of India (BoI) 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.
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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. Logistics infrastructure development has become the sunrise sector in India during the past decade with the government’s push in moving up the Logistics Performance Index of the World Bank. The Focus on increasing multimodal logistics and demand for warehousing is on the rise with infrastructure majors investing in mega assets across the country, be it logistics parks or warehouses supporting the e-commerce delivery.

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