Govt to infuse Rs 6,000 cr in SBI: Chaudhuri

The government has agreed to infuse fresh capital into State Bank of India through a preferential issue and the country’s largest lender will get up to Rs 6,000 crore before the fiscal-end, Chairman Pratip Chaudhuri said here on Wednesday.

“We will be having a preferential issue and will be getting capital through it,” Chaudhuri said when asked about the progress on its proposed recapitalisation.

“The size will be Rs 5,000 to Rs 6,000 crore,” Chaudhuri said. He did not give any specific indication about the timing of the issue, though he said it will happen before March 31. SBI’s total capital adequacy ratio stood at 11.4 per cent as of the September quarter, of which core tier-I capital stood at 7.7 per cent, below the 8 per cent-level desired by the government.

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