SBI to issue first rupee-denominated perpetual debt of 2026: Report

State Bank of India plans to raise Rs 5,000 crore through Basel III-compliant additional Tier I perpetual bonds with a five-year call option, becoming the first bank to tap the perpetual bond market in 2026. The issuance is expected to be completed within the next two weeks, ahead of the RBI monetary policy decision on August 5. SBI's board had earlier approved raising up to Rs 60,000 crore through various debt instruments this financial year, including long-term infrastructure bonds and Tier II instruments.