<ul data-eligibleForWebStory="true"><li>State Bank of India (SBI) approved raising funds up to $3 billion during the current fiscal through a public offer or private placement of senior unsecured notes.</li><li>SBI had proposed to raise $3 billion in single or multiple tranches in US dollars or other major foreign currencies in May.</li><li>Following a rate cut by RBI, SBI reduced its lending rate by 50 basis points to 7.75%, making loans cheaper for borrowers.</li><li>SBI shares closed slightly higher at Rs 792.5 apiece on the NSE, with analysts tracking the company mostly having a 'buy' rating on the stock.</li></ul>

SBI Approves To Raise $3 Billion For FY26

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