SBI to seek board approval for funds; Axis Bank raises $500 mn

State Bank of India’s board will meet on May 12 to consider raising up to $2 billion through long-term foreign currency bonds in FY27 via public offers or private placements. Meanwhile, Axis Bank has secured a $500 million three-year loan from Japan’s MUFG at SOFR plus 85 basis points, with the funds aimed at lending and general business needs.