Govt to decide on SBI rights issue in 2 weeks
The government is likely to take a decision on public sector lender State Bank of India’s proposed plan to raise about Rs 18,000 crore through a rights issue in the next fortnight.
By TNN |
New Delhi: The government is likely to take a decision on public sector lender State Bank of India’s proposed plan to raise about Rs 18,000 crore through a rights issue in the next fortnight.
“It is likely that the government would take a call on the capital raising plan for SBI in the next 15 days,” official sources said. “The issue is awaiting the finance minister’s approval.
Once that is done, it will put it up before the cabinet, which is likely to be done before Parliament begins its winter session,” the sources said. With Parliament session likely to be advanced to November 14 because of upcoming Gujarat elections, a note on SBI’s capital raising plan may be put up before the cabinet within a fortnight, they said.
“It is likely that the government would take a call on the capital raising plan for SBI in the next 15 days,” official sources said. “The issue is awaiting the finance minister’s approval.
Once that is done, it will put it up before the cabinet, which is likely to be done before Parliament begins its winter session,” the sources said. With Parliament session likely to be advanced to November 14 because of upcoming Gujarat elections, a note on SBI’s capital raising plan may be put up before the cabinet within a fortnight, they said.
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