Government to infuse Rs 4,000 crore in SBI

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Mumbai:

The government is looking to infuse Rs 4,000 crore in State Bank of India, the country's biggest lender, a bank executive told reporters on Wednesday.

"What mode it will be is being discussed," said Diwakar Gupta, managing director and chief financial officer at SBI.

"We have given various options and it is the call of the government to decide how they would like to infuse the equity," said Gupta, adding that the money will be adequate to keep SBI above the capital adequacy level of 13 per cent.

In November, Finance Minister P. Chidambaram had said the government will decide in the next few weeks how much additional capital will be injected into state-run banks after determining most of the lenders will need additional funds.

Copyright: Thomson Reuters 2012

Story first published on: December 05, 2012 13:55 (IST)

Tags: State Bank of India

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