Before next March, the State Bank of India (SBI) plans to raise Tier-II capital of about Rs 5,000 crore. The bank had announced earlier that it plans to raise over Rs 9,000 crore in Tier-I capital through the qualified institutional placement (QIP) route to strengthen its core capital.
Even the government has promised to infuse Rs 2,000 crore through a preferential allotment of shares. The bank would lend to all sectors where it sees viability but added that it would focus more on growing the retail book.
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