Moneycontrol
Jan 21, 2013 08:23 AM IST | Source: Moneycontrol.com

SBI okays capital infusion of Rs 3004cr by Govt via preferential issue of shares

SBI in its meeting held on Jan 19, 2013, has approved infusion of capital funds in the Bank by the GoI, to the tune of Rs 3004 cr during FY 2012-13, by way of preferential allotment of equity shares to the Gol, to enable the bank to support national and international banking operations undertaken through its subsidiaries and associates.

SBI okays capital infusion of Rs 3004cr by Govt via preferential issue of shares

State Bank of India has informed BSE that the Central Board of the Bank, in its Meeting held on January 19, 2013, has approved infusion of Capital funds in the Bank by the GoI, to the tune of Rs.3004 crore during FY 2012-13, by way of Preferential Allotment of equity shares to the Gol, to enable the Bank to support national and international banking operations undertaken through its Subsidiaries and Associates.In this connection, the Bank is seeking necessary approvals from RBI and Gol under section 5(2) of the State Bank of India Act to increase its issued capital.Source : BSE

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