State Bank of India, the nation’s largest lender, aims to raise up to $3 billion through forex debt in the current fiscal year to fuel its projected loan growth of 16%. The funds will be raised through public offers or private placements of senior unsecured notes, denominated in US dollars or other major foreign currencies. With rising credit demand, banks like SBI are bolstering their capital, aligning with the RBI’s data showing a 17% surge in May. Other public sector lenders, including Canara Bank and Punjab National Bank, also plan similar debt-raising initiatives this fiscal year.
SBI Plans $3 Billion Forex Debt Raise for Loan Growth
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