VERIFIEDET Finance·20 Jun 2026neutral

SBI, Axis Bank among lenders set for $2 billion ECB fundraising via RBI swap

AI Summary

·SBI, Axis Bank, Bank of Baroda, and Power Finance Corporation plan to raise over $2 billion from overseas.
·The fundraising is facilitated by the Reserve Bank of India's 1.5% fixed-rate swap incentive for external commercial borrowings.
·HDFC Bank's recent dollar bond sale has encouraged this fundraising trend.