State Bank of India (SBI) to Become First Indian Bank to Issue Basel III-Compliant AT-1 Perpetual Bonds in 2026

Exam-focused facts from the 31 July 2026 current affairs briefing.

Key facts

State Bank of India (SBI) plans to raise ₹50 billion ($517.76 million) through Basel III-compliant Additional Tier I (AT-1) perpetual bonds with a five-year call option.
SBI is set to become the first Indian bank to issue perpetual bonds in 2026, with the issuance expected before the Reserve Bank of India's (RBI) monetary policy decision on August 5, 2026.
SBI's board has approved raising up to ₹600 billion through debt this financial year, including AT-1 securities and Tier II instruments.
SBI last issued perpetual bonds in October 2024, raising ₹50 billion at a 7.98% coupon with a 10-year call option.