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SBI plans to raise $250 m

By Our Staff Reporter - PTI

MUMBAI, MARCH 18. State Bank of India is planning to raise $250 million from the international markets through syndicated foreign exchange loans.

"We are planning to raise $250 million from the international markets for one year,'' a senior SBI official said here today.

The funds are being raised to grow the balance sheet of the bank's overseas operations as the proceeds would be given to the international branches for their business growth.

Market sources said the bank was raising the amount in view of the growing demand for foreign exchange loans.

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