State Bank of India intends to borrow up to $1.25 billion, which will be this year's biggest dollar-denominated loan from India financial sector, according to Bloomberg.CTBC Bank, HSBC Holdings Plc, and Taipei Fubon Bank are negotiating the five-year loan, which has an interest margin of 92.5 bps over the risk-free Secured Overnight Financing Rate, according to Bloomberg.According to Bloomberg, the nation's newest financial center, Gujarat International Finance Tec-City, is home to the branch of India's largest lender, which is raising the facility for general corporate purposes. The deal is being syndicated to additional financiers.NBFCs or shadow banks have specifically have increasingly turned to dollar-denominated facilities amidst stringent rules at home.Cholamandalam Investment & financing Co. is the most recent non-banking financing company in India to apply for a $300 million syndicated term facility. Meanwhile, Bank of Baroda is raising a loan worth $750 million, and the Sydney office of local financier Union Bank of India is marketing a three-year loan for A$125 million ($81 million).Despite the rush of activity, the lack of significant company borrowings has caused India's dollar loan volume to drop 27 per cent this year to $14.2 billion, as per the data compiled by Bloomberg.According to the data complied by Bloomberg, State bank raised a $750 million loan for three years in July.