This content is from: Innovation
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.