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	<img align="" alt="Peer review to keep SBI bosses on toes" class="imgCont" height="464" src="http://bsmedia.business-standard.com/_media/bs/img/article/2017-11/20/full/1511118877-7469.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="Peer review to keep SBI bosses on toes" width="620" />
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		The State Bank of India plans to raise up to $2 billion (over Rs 126 billion) by issuing bonds in US dollar or other convertible currency over two fiscals to fund overseas expansion.</div>
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		&quot;The executive committee of the Central Board.. has approved long term fund-raising in single/multiple tranches up to $2 billion,&quot; State Bank of India (SBI) said in a regulatory filing.</div>
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		It said the fund-raising will take place through a public offer and/or private placement of senior unsecured notes in US Dollar or any other convertible currency during 2017-18 and 2018-19.</div>
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		Last month, the bank&#39;s board had approved raising Rs 80 billion through various sources, including masala bonds, to meet Basel III capital norms.</div>
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		Masala bonds are rupee denominated specialised debt instruments that can be floated in overseas markets only to raise capital.</div>
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		The bank said it has time until March 2018 to raise the funds.<br />
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		Shares of SBI were trading 0.44 per cent higher at Rs 307.55 on BSE</div>
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		Banks in India have to comply with the global capital norms under Basel III by March 2019. Internationally agreed time frame for the same is January 2019.</div>
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		Basel III reforms are the response of Basel Committee on Banking Supervision (BCBS) to improve banking sector&#39;s ability to absorb shocks arising from financial and economic stress, whatever the source, thus reducing the risk of spillover from the financial sector to the real economy.&nbsp;<br />
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The bank said it has time until March 2018 to raise the funds

SBI to raise up to $2 bn through overseas bonds to fund expansion

The bank said it has time until March 2018 to raise the funds

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