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State Bank of India said it is looking to raise between $500 million and $1 billion from a bond sale, its chairman said on Tuesday.

"We define benchmark size as something between $500 million to $1 billion, so we will see the reception," OP Bhatt told Reuters on the sidelines of a banking event in Singapore.

He also said the bank is interested in expanding in Indonesia either by opening branches or through acquisitions.

"In this part of the world: Indonesia, if we get something, yes, otherwise we will grow there organically, by opening branches," he said.

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