HDFC Bank, India's largest lender, said on Tuesday that it plans to raise 50,000 crore in bonds through private placements over the next 12 months. This proposal is expected to be discussed by the lender's board of directors at its meeting on April 15.

"The bank proposes to raise funds through private placement by issuing Perpetual Debt Instruments (part of Additional Tier I capital), Tier II Capital Bonds, and Long-Term Bonds (Financing of Infrastructure and Affordable Housing) up to a total amount of 50,000 crores over the next 12 months," the lender said in an exchange filing.

State Bank of India announced on Monday that it intends to raise $2 billion through offshore bonds and that its board of directors will consider the proposal on Tuesday.

HDFC Bank recently announced pro forma numbers indicating that its March-quarter advances increased 17%, bringing its total loan book to 16 lakh crore. According to preliminary data, total deposits increased by more than a fifth. Domestic retail loans increased by approximately 21%, commercial and rural banking loans increased by approximately 30%, and corporate and other wholesale loans increased by approximately 12.5% in the March quarter compared to the same period last year, according to the bank's internal business classification.