SBI board approves $2-billion fundraise via bonds for FY23 The board of State Bank of India (SBI) on Tuesday approved the bank’s proposal to raise up to $2 billion through debt securities in the international market in FY23. The approval applies to long-term fundraising in a single or multiple tranches under Reg-S/144A, through a public offer or private placement of senior unsecured notes in US dollar or any other convertible currency. SBI’s capital adequacy ratio (CAR) as at the end of Q3FY22 stood at 13.23%, with the tier-1 ratio at 10.91%. The bank’s shares ended at Rs 475.10 on the BSE on Tuesday, down 0.13% from their previous close.