The State Bank of India’s recent fundraising of US$300 million through issuance of Formosa Bonds is a testimony of the confidence reposed by the overseas investors in the country’s growth story, its Chairman Dinesh Khara said.
The lender is the first Indian entity to raise money through Formosa Bond, which is a bond issued in Taiwan.
“This is a reflection of India’s March towards the next step of being a developed country,” Khara said.
Khara added that the issuance is a step further in the direction of the globalization of the world.
The lender had said that a wide range of investors such as supranational agencies, assets managers, private bankers and financial institutions have invested in the issue.
(With inputs from PTI)
