SBI to consider raising $2 bn

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.

Yash Ved
Yash Ved is a Senior Correspondent at NewsBarons and comes with a decade of experience across leading online and offline publications. A keen observer of the stock index movement, Yash also likes covering Real Estate and the BFSI sector. A financial management and Journalism student, Yash believes learning as a continuous journey and enjoys following the IT and the Pharmaceutical industry and has penned many articles on the subjects.