Bloomberg News

State Bank Must Raise 80 Billion Rupees to Meet Minimum Capital

November 07, 2011

Nov. 6 (Bloomberg) -- State Bank of India, the nation’s biggest lender, need to raise as much as 80 billion rupees by March to meet the minimum capital requirement, its Chief Financial Officer Diwakar Gupta told reporters in Chennai.

The Mumbai-based bank won’t be the “first mover” among the nation’s state-owned lenders to raise savings rate, he said.

To contact the reporter on this story: Anoop Agrawal in Mumbai at aagrawal8@bloomberg.net

To contact the editor responsible for this story: Vipin Nair at vnair12@bloomberg.net


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