Banks, state firms plan $3.5 bn of bond sales before GDP, RBI MPC meet, bankers say

Indian lenders and state-run firms are racing to raise up to $3.5 billion through bonds ahead of India's GDP data and monetary policy decision amid concerns that interest rates might not be slashed, bankers said on Monday, Reuters reported.

- FPJ News Service

State-owned Power Finance Corp, Indian Railway Finance Corp, Small Industries Development Bank of India, and NABARD aim to raise a combined 240 billion rupees ($2.7 billion), while Axis Bank and Bank of India plan to raise 75 billion rupees, according to bankers, who did not want to be named as they are not authorised to speak to media.