SBI receives board approval to raise up to $3B via debt in the current financial year.
State Bank of India (SBI), India's largest lender, has received board approval to raise up to $3 billion via debt in the current financial year. The funds will be raised through public offer or private placement of senior unsecured notes, denominated in US dollars or other major foreign currencies. Indian banks are shoring up their capital base to meet the rising demand for loans, with SBI and several other state-run lenders planning to raise funds via debt this fiscal year.
June 11, 2024
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