SBI to consider raising $2 bn

SBI to consider raising $2 bn

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State Bank of India (SBI) stated that the executive committee of its central board is scheduled to have a meeting on 8th of January, 2018 to consider fundraising worth $2 bn through a public offer or a private placement.

The fundraising could be either in dollar or any other convertible currency during the current or next fiscal.

Report says that State Bank of India may reduce its minimum balance requirement to INR 1,000 from the current INR 3,000 balance in metros.

The stock was up by 1% at Rs. 309.

The stock has hit a high of Rs. 311 and a low of Rs. 309.