SBI not looking for government funds for capitalization

Reported by: |Updated: August 28, 2019

The State Bank of India said it does not require any funding from the government in this financial year as it is well-capitalized.  The bank’s MD Arijit Basu said the bank is not looking for any recapitalization at this point of time as the bank has been able to raise funds from markets. The bank has also announced a scheme for its tier-1 and tier-II bonds, he added. Basu’s attention was drawn to an announcement by the finance minister about the government’s decision to infuse Rs 70,000 into state-run banks to improve their lending capacity. He said the government’s plan is for those banks which are not able to access the market immediately. He added the bank may look at selling its investment in non-core assets to raise capital

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