SBI board approves Rs 2,000 crore capital infusion
Oct 30 2013 , New Delhi
The funds will be infused by allotting preferential equity shares to the government, SBI said in a BSE filing.
Last fiscal, the government infused Rs 3,004 crore into state-owned SBI through a preferential allotment of shares. The state's holding in the bank increased to 62.3 per cent from 61.6 per cent previously.
The government said on October 23 it would inject Rs 14,000 crore in 20 state-run banks to meet the credit requirements of productive sectors of the economy and maintain the regulatory capital adequacy ratios in public sector banks.
The board of Oriental Bank of Commerce (OBC) approved infusion of Rs 150 crore of capital from the government.
"The board...Approved the proposal regarding raising of capital by way of preferential allotment of equity shares in favour of Government of India amounting to Rs 150 crore," OBC said.
With this, the government's holding in OBC will go up to 59.1 per cent from 58 per cent.
Public sector lender Union Bank of India today said it got board approval to raise equity capital not exceeding Rs 1,997 crore on a preferential, qualified institutional placement or rights basis, subject to government and Reserve Bank of India approvals.