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    HomeNewsBusinessCompaniesGovt to inject up to $1.4 bn capital in SBI by next week

    Govt to inject up to $1.4 bn capital in SBI by next week

    India will inject Rs 6,000 crore to Rs 7,000 crore in State Bank Of India by next week, banking secretary D.K. Mittal said on Friday.

    March 16, 2012 / 17:16 IST

    India will inject Rs 6,000 crore to Rs 7,000 crore in State Bank Of India by next week, banking secretary D.K. Mittal said on Friday.

    The government is the bank's largest shareholder.

    Earlier this year, the bank had said it will receive about Rs 7,900 crore from the government through a preferential allotment of shares.

    Ratings agency Moody's downgraded SBI's standalone rating in October, citing inadequate capital and declining asset quality, putting pressure on the government - its the largest shareholder - to inject money into the bank.

    first published: Mar 16, 2012 04:56 pm

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