Mumbai: According to the sources, State Bank of India (SBI) is ready to raise nearly Rs 1.8 trillion ($44.3 billion) by the next five years.

The plan includes a 145-billion-rupee a follow-on public share offer in the financial year ended March 2008.

The bank's chief financial officer, Arun Shandilya declined to comment by saying that the topic was secret.

State Bank of India is the biggest Indian bank. It was established in 1806 as Bank of Bengal. It offers a range of domestic, international and NRI products and services, through its huge network in India and abroad. With a total asset base of $126 billion and its reach, it is a regional banking giant.