NEWS & ADVICE : FIXED DEPOSITS
SBI likely to receive capital infusion in this fiscal
By Neelima Shankar
Aug 29, 2011
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The largest lender of the country, State Bank of India is expected to receive capital infusion from the government during this financial year. A decision in this regard will be take by the government soon.

"We will capitalise SBI adequately so that the Tier-I capital is maintained over 8 per cent, in line with the government's intent," said official sources.

According to sources, a request for the same was sent by the bank to the finance ministry a few weeks back. The proposal is under consideration and a decision is soon expected.

The bank presently requires capital infusion worth Rs 20,000 crore in order to fulfill its growth objectives for the upcoming two financial years.

Sources said that the mode of capital infusion is not sure. It may be in the form of preferential shares, rights issue, warrants etc.


 


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