SBI plans to raise $2.5 bn as long-term funds

State Bank of India, on Wednesday, said it has received approval to raise long-term funds to the tune of $2.5 billion in bonds this fiscal. The decision was taken by the executive committee of the bank’s central board. “Long-term fund-raising in single or multiple tranches up to $2.5 billion...through a public offer and/or private placement of senior unsecured notes in US dollar or any other convertible currency during 2019-20,” it said.