Search
SBI to Ask for Board’s Approval for Rs. 8,800-cr Govt. Capital
February 08, 2018
Public sector State Bank of India (SBI) is to approach the board later this week to get its approval for issuing Rs. 8,800 crores worth of preference equity shares to the central government. This is to follow the government’s mega recapitalization plan of Rs. 2.11 lakh crores spanning across 2 years for tackling the problem of bad loans in the public-sector banks.
SBI’s board of directors are scheduled to hold a meeting on February 9th to announce the bank’s numbers for the third quarter of the current fiscal year.
