State Bank of India, the country's largest lender plans to raise up to USD 2 billion by issuing bonds or other convertible currency, reported PTI.

"The executive committee of the Central Board.. has approved long term fund-raising in single/multiple tranches up to USD 2 billion," State Bank of India (SBI) said in a regulatory filing.

The find raising will take place through public and/or private placement of senior unsecured notes in US Dollar or any other convertible currency during the fiscal years 2017-18 and 2018-19.