SBI delays $1.7 billion bond issuance due to yields

State Bank of India (SBI) has postponed its $1.7 billion bond issuance for the current fiscal year due to high bond yields, despite a recent rate cut by the Reserve Bank of India. The bank plans to reassess its funding strategy in FY25. SBI had aimed to raise ₹150 billion through bond sales but has decided to wait for better market conditions. Other state-run banks have successfully raised funds recently, highlighting SBI's cautious approach amid rising yields. SBI's stock fell nearly 1% to ₹722.45, remaining significantly below its 52-week high of ₹912.10. The stock has seen a slight recovery in March after three months of losses.