SBI defers ₹15k-cr bond sale amid higher yields

THE nation's largest lender State Bank of India (SBI) has deferred its ₹15,000-crore domestic bond issuance—a mix of tier 1 bonds and long-term infra bonds—plan due to high bond yields, despite the rate cut by the central bank.

- BENN KOCHUVEEDAN @ Mumbai

The bank has also decided to re-look at the funding strategy for the remainder of the current fiscal and look afresh at the funding plans next fiscal. This comes despite the fact that many other state-run banks have raised funds in recent months. The move has baffled the market and pulled down its stock by almost 1% on