SBI to raise ~200 bn via bonds for affordable housing

The country's largest lender, State Bank of India (SBI), plans to raise ~200 billion through long-term bonds to fund affordable housing. SBI had earlier proposed to raise ~50 billion for the purpose. "A proposal will be submitted to Executive Committee of Central Board (ECCB)... for approval for issuance of long term bonds of ~200 billion for financing of infrastructure and affordable housing in domestic and overseas market instead of ~50 billion intimated earlier," SBI said in a filing to the stock exchanges. The bank did not specify whether the borrowing would be in rupee denomination or dollar.