Business Standard

SBI sets price for issuing shares to govt

Related News

of India (SBI), the country's top lender, will issue shares to the government at Rs 2,191.69 a piece to raise about Rs 7,900 crore, the state-run lender said on Thursday.

shares closed up 0.2% at Rs 2,260 ahead of the news.

The government is injecting funds into SBI by subscribing to its shares as part of a move to shore up the capital base of state-run banks eroded by fast growth and worsening asset quality.

SBI, which holds about a quarter of the country's loans and deposits, was downgraded by Moody's Investors Service in October last year because of its thin capital base and worsening asset quality.

Read more on:   
|
|

Read More

Responsible and pragmatic: Amitabh Chaudhry

There has been a high level of focus on financial and capital markets with a slew of measures

Quick Links

More news from Finance Rss icon

Failed ATM withdrawals a concern: Ombudsman

Close to 29 per cent of all complaints received from customers is related to ATM, debit card and credit card payments

IDBI Bank puts focus on retail loans

It is currently rebalancing its portfolio to de-risk its business and also comply with regulatory norms for the priority sector lending

Vizag co-op bank eyes multisate licence

VCB's deposits and advances stand at Rs 1,980 crore and Rs 1,295 crore respectively

Back to Top