Govt likely to pump Rs 4000 cr into SBI this fiscal

Posted By: Religare
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Govt likely to pump Rs 4000 cr into SBI this fiscal
Public-sector lender State Bank of India expects a capital infusion of Rs 4000 crore from the government in order to shore up its capital, said the media report.

"We have requested the government for Rs 4,000 crore capital infusion (in the current fiscal)," SBI, Chairman and Managing Director Pratip Chaudhuri, said on the sidelines of a function to launch Air India-SBI co-branded credit card.

Earlier, in the last fiscal government pumped Rs 3004 crore into SBI through a preferential allotment of shares to the government, through which the state holding in the bank increased to 62.3 per cent from 61.6 per cent earlier.

Moreover, the further infusion of Rs 4,000 crore would take the lender's total capital adequacy to over 13 per cent, with the core tier-I at 9.8 per cent, said the media report.

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