Govt to inject Rs 4,000 crore in SBI
The government has committed to infuse Rs 4,000 crore in State Bank of India, said a top official of India’s largest lender on Saturday.
By ET Bureau | Updated:
CHENNAI: The government has committed to infuse Rs 4,000 crore in State Bank of India, said a top official of India’s largest lender on Saturday.
“They have set aside Rs 4,000 crore for us. Options will be discussed by government whether it will be a preferential allotment or rights issue. A rights issue cannot be ruled out,” SBI chairman Pratip Chaudhuri said on the sidelines of BANCON conference in Chennai on Saturday.
Union Minister of State for Finance Namo Narain Meena said on Friday at the same event that the government has approved Rs 14,000 crore as a part of recapitalisation of public sector banks for 2011-2012. He said the banks had sought Rs 18000 crore in the current year and Rs 19,000 crore in 2012-2013.
C Rangarajan, chairman of Economic Advisory Council to the Prime Minister, said in his special address that maintaining capital adequacy ratio for public sector banks would be a challenge.
“They have set aside Rs 4,000 crore for us. Options will be discussed by government whether it will be a preferential allotment or rights issue. A rights issue cannot be ruled out,” SBI chairman Pratip Chaudhuri said on the sidelines of BANCON conference in Chennai on Saturday.
Union Minister of State for Finance Namo Narain Meena said on Friday at the same event that the government has approved Rs 14,000 crore as a part of recapitalisation of public sector banks for 2011-2012. He said the banks had sought Rs 18000 crore in the current year and Rs 19,000 crore in 2012-2013.
C Rangarajan, chairman of Economic Advisory Council to the Prime Minister, said in his special address that maintaining capital adequacy ratio for public sector banks would be a challenge.
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