SBI's plans to raise dollar funds through green bonds' issue put on hold

Keeping in view the uncertainty and higher costs of the fund, the bank has decided not to go ahead with the plan for the time being, says a senior executive with the global lender

The country’s largest lender State Bank of India has kept on hold plans to raise dollar funds through maiden issue of green bonds, due to high volatility in international markets.

SBI was looking to raise over $500 million through green bonds and it moved early this quarter to tap the global market. The situation turned adverse in light of the crisis in markets like Turkey and Argentina, making the market borrowings costly, merchant banking sources said.

Keeping in view the uncertainty and higher costs of the fund, the bank has decided not to go ahead with the plan for the