The State Bank of India ( SBI ) on Thursday announced that it will revise cash withdrawal charges, effective October 1, for Basic Savings Bank Deposit (BSBD) accounts opened through the branch channel.
The money has been raised between June 16 and August 13, starting with a USD 750 million issuance from the largest private sector lender HDFC Bank and the last such issuance was a cumulative USD 700 million fund raise by state-run Bank of Baroda through two instruments.
It also mentioned that at T 88 or 0.88 per cent over the US treasury bill, the SBI’s fund raise achieved the tightest 5-year spread for an Indian bank since SBI’s own issuance in last September. ICICI Bank, the second largest among private sector banks, raised USD 1 billion from a 5-year paper at a spread of T 100, the statement said, adding that this was the largest USD senior bond issuance by an Indian private sector bank in nearly 14 years. Earlier on June 23, Axis Bank had raised a cumulative USD 800 million through two instruments, including USD 300 million from a USD 5-year senior unsecured fixed rate notes at T 110 and the remaining USD 500 million from USD Perpetual NC5.5 RegS subordinated at1 fixed rate notes at 6.875 per cent, it said.
“With strong demand across recent transactions and continued international investor interest in Indian financial sector credit, this trend is expected to continue through the second half of 2026,” Citi India said.
