State Bank of India gets Rs 3,004-cr capital from Govt

State Bank of India (SBI) gets Rs 3,004-cr capital from Government of India.

Mumbai-headquartered country’s largest bank State Bank of India (SBI) on March 19, 2013 said it has received Rs 3,004 crore from the Government of India as part of the recapitalization plan of the State-run banks.

SBI-LogoPost-infusion, the shareholding of the Government in the bank has increased from 61.58 to 62.31 per cent.

According to the bank, the Government infused the money by subscribing to preferential allotment of 1.29 crore equity shares at the issue price of Rs 2,312.78 per share.

“We are confident that with this capital infusion, we will meet the capital adequacy requirement prescribed by Reserve Bank,” State Bank of India (SBI) said.

Leave a Reply

Your email address will not be published. Required fields are marked *