Nation's largest lender State Bank of India today raised USD 500 million in forex debt in three-year dollar money as part of its medium term notes (MTN) programme, making it the second fund raising by it this year.
Indian Overseas Bank plans to raise $500 mn through MTN
Moody’s downgrade of SBI has delivered a blow to the Indian economy and its banking sector. According to Anant Narayan of Standard Chartered Bank, this move has increased the risk of FII outlfows from India which will further hurt India Inc.
State Bank of India, the country's largest lender, plans to raise USD 5 billion via overseas loans in the current fiscal year, its chairman said on Friday.