SBI to raise $3 billion through debt

ANI

Updated At : 01:10 PM Jun 12, 2024 IST

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Mumbai, June 11

The State Bank of India (SBI) board has cleared a proposal to raise USD 3 billion via debt in FY25. The lender will raise the funds in one or more tranches through a public offer or a private placement of senior unsecured notes in USD or any other major foreign currency.

India’s largest public sector bank made the announcement through an exchange filing. This move comes as Indian banks are strengthening their capital reserves to cater to increasing demands for loans.

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