States Bank of India, the country's largest bank, plans to raise 200 billion rupees ($4.07 billion) in the current fiscal year, a top company official said Friday.

SBI wants to raise 200 billion rupees this fiscal year. Rights issue is an option, said SBI's chairman O.P. Bhatt.

Though there are many ways to raise capital, but Bhatt said he preferred to do it through a rights issue.

We need capital for growth, there are 'x' number of ways from where we can raise capital, we need to get government clearance for that. So when the new government is in place, we will see what we can do. My preferred option would be a rights issue, Bhatt said.