• Two Indian state banks plan to raise $1 billion through dollar bonds, benefiting from an RBI scheme that reduces currency hedging expenses Published September 7, 2026 Updated about 14 hours ago By Reuters MUMBAI: Two Indian state-run lenders, Canara Bank and Bank of Maharashtra, are set to raise $500 million each through the sale of U.S. dollar-denominated bonds over the next few days, two merchant bankers said on Monday. Both the lenders will look to raise funds through a sale of three-year or five-year papers, or a combination of both, under the central bank’s concessional swap window, which lowers the cost of hedging the risk of unfavourable currency moves, the bankers added. The bankers requested anonymity as the matter is still private, while neither of the lenders responded to a Reuters request for comment. Though this would be Bank of Maharashtra’s debut issue, this would Canara Bank’s second issuance this year, and both the debt sales are expected to be completed in September, the bankers said. Fitch Ratings has assigned Bank of Maharashtra’s $500 million medium-term…