SBI rights issue round the corner, says Pratip Chaudhuri

The SBI today said it is confident that the government is fully committed to the proposed SBI rights issue and it was round the corner.

"There is nothing to worry about the SBI rights issue. We are confident that the government is fully committed and it is round the corner," SBI Chairman Pratip Chaudhuri said told a press conference here.

He said even in trying circumstances, there would be no dearth of capital.

Chaudhuri said since the SBI requirement was large compared to other banks, the government could not accommodate in the last fiscal.

With Tier-I capital at 7.77%, he said there was no urgency for capital at present and it was also comfortable for the full fiscal.

In addition, the bank had headroom to raise Tier-II capital. He said the government was keen to maintain the controlling interest in the bank with 59% stakeholding by subscribing to the rights.

The bank plans to raise Rs 20,000 crore through the rights.