PRESS TRUST OF INDIA
Mumbai, 15 November
Country’s largest bank State Bank of India today said it will be raising up to Rs 5,000 crore through bonds (debt) by the end of this fiscal.
“(We have ) not yet (decided the exact amount). But it would be in the range of about Rs 5,000 crore. No timeframe, but definitely before March end,” SBI chairperson Arundhati Bhattacharya told reporters on the sidelines of the annual Bancon summit here.
Earlier this week, Ms Bhattacharya had said SBI planed to raise over Rs 9,000 crore in tier-I capital through the qualified institutional placement route to strengthen its core capital.
Besides, the government has also promised to infuse Rs 2,000 crore through a preferential allotment of shares.
Ms Bhattacharya said the bank will lend to all the sectors where it sees viability, but added that it will focus more on growing the retail book.
Referring to the inflation, Ms Bhattacharya said she expects the much more challenging retail inflation to cool down by January as the services component is under control and with the arrival of more food stocks into the market on good monsoons.
She said SBI has not been informed by the Reserve Bank about any move to extend the FCNR(B) deposits raising window.