SBI expects Rs 4,000 cr capital infusion from govt this fiscal
New Delhi: Country's largest bank SBI on Monday said it expects Rs 4,000 crore capital infusion from the government to shore up its capital.
"We have requested the government for Rs 4,000 crore capital infusion (in the current fiscal)," SBI Chairman and Managing Director Pratip Chaudhuri said here on the sidelines of a function to launch Air India-SBI co-branded credit card.
When asked about his expectations from the upcoming RBI policy review, he said that the bank has recommended cut in CRR (Cash Reserve Ratio) as well as repo rate.
On recovering debt of grounded Kingfisher Airlines, the State Bank of India (SBI) chief said the lender was taking all possible action to recover the loans.
However, he refused to divulge specific details.
The government plans to infuse about Rs 14,000 crore capital into banks in the current financial year (2013-14).
Last fiscal, the government had infused Rs 3,004 crore into SBI.
The lender raised the money through a preferential allotment of shares to the government, through which the state holding in the bank increased to 62.3 percent from 61.6 percent earlier.
Infusion of Rs 4,000 crore would take the lender's total capital adequacy to over 13 percent, with the core tier-I at 9.8 percent.
SBI's total capital adequacy had stood at 11.85 percent, with the core tier-I at 8.82 percent, as on June 30 this year.
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