The State Bank of India (SBI) plans to raise up to $2bn in FY24 through overseas bond sales. Its nearest competitors, HDFC Bank, ICICI Bank and Axis Bank, raised $1bn or less. The potential fundraising will involve the issuance of senior unsecured notes to overseas investors in multiple tranches. The bonds may be denominated in any currency. Components of the fundraising may include a public offering or private placement in US dollars, or as convertible foreign currencies abroad under Reg-S/144A. SBI has already raised $1bn via a round of social loans in February