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.

SBI is set to raise up to $1.25 billion, the largest dollar loan in India, for corporate needs in GIFT City. The State Bank of India, India's largest public sector bank, is planning to raise up to $1.25 billion, marking the biggest dollar-denominated loan in the country's financial sector.

State Bank of India plans to secure a $1.25 billion five-year dollar loan, the largest such facility from India’s financial sector in 2023. Arranged by CTBC Bank, HSBC, and Taipei Fubon Bank, the loan aims to support general corporate purposes amid rising interest in foreign borrowing by Indian banks and NBFCs.

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 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,

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.