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    HomeNewsBusinessCompaniesGovt may infuse $ 3.3 bn into SBI via rights issue

    Govt may infuse $ 3.3 bn into SBI via rights issue

    The government may infuse Rs 15,000 crore (USD 3.3 billion) into the country's largest lender State Bank of India in the next fiscal year via a rights issue, a finance ministry source said on Friday.

    January 31, 2011 / 16:47 IST

    The government may infuse Rs 15,000 crore (USD 3.3 billion) into the country's largest lender State Bank of India in the next fiscal year via a rights issue, a finance ministry source said on Friday.

    The money will be allocated in the budget for the 2011/12 fiscal year that starts in April, the source told Reuters.

    SBI has asked for capital infusion of Rs 25,000 crore for the next two fiscal years from the government, the source added.

    The government is also likely to infuse another Rs 8,800 crore into other state-run banks for helping them meet their capital adequacy ratio.

    first published: Jan 28, 2011 12:28 pm

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