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SBI Looks To Get $2B Fund Infusion

State Bank of India is expecting to get an investment of up to $2.03 billion from the government by March.

State Bank of India (SBI) is expecting to get an investment of up to $2.03 billion from the government by March, The Wall Street Journal reports. The government owns 59.4 percent shares of the bank.

SBI’s initial proposal to raise up to $4.6 billion was rejected by the government. The lender has approximately $625 million worth of outstanding perpetual bonds.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Reuters.

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