The loan is being raised for general corporate purposes through its branch at the Gujarat International Finance Tec-City, the report said.

State Bank of India plans to borrow up to $1.25 billion, in what would be the largest dollar-denominated loan from the country’s financial sector this year, according to people familiar with the matter.

The State Bank of India (SBI) has announced the latest marginal cost of funds-based lending rates (MCLR) on loans for the period November 15- December 15, 2024. SBI has revised lending rates on these three tenures.

State Bank of India is seeking a $1.25 billion loan, potentially the largest from an Indian financial institution this year. The five-year loan, coordinated by international banks, will be used for general corporate purposes.

Shares of State Bank of India fell after the country’s largest lender reported a contraction in margins and higher provisions for bad loans. The bank forecast lower-than-expected deposit growth for this fiscal year.

State Bank of India is seeking a five-year loan of up to $1.25 billion, marking the largest dollar-denominated loan from India's financial sector this year. The loan, arranged by CTBC Bank, HSBC, and Taipei Fubon Bank,