Friday , 16 November 2018
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SBI gets nod to raise equity capital up to Rs 20,000 crore during FY19

SBI gets nod to raise equity capital up to Rs 20,000 crore during FY19

State Bank of India (SBI) has received an approval to raise equity capital up to an amount of Rs 20,000 crore during FY19 from the market by way of FPO/QIP/Preferential allotment/Rights Issue/any other mode or a combination of these, to be decided at the opportune time subject to the approval of shareholders, Reserve Bank of India, SEBI and Government of India. The meeting of the Central Board of the Bank held on October 22, 2018 has approved the same.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.

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