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SBI to raise Rs 10,000 cr by December

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Press Trust of India Posted: Sep 13, 2007 at 0011 hrs IST

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Mumbai:: The country’s largest lender, State Bank of India (SBI), plans to raise Rs 10,000 crore by December, SBI Chairman O P Bhatt has said. “We plan to raise Rs 10,000 crore by December and we are evaluating various options of fund-raising,” Bhatt said. process of consolidation within the SBI group had been kicked off recently with the decision to merge State Bank of Saurashtra with the group.

“We will see how this goes before embarking upon further consolidation (with its other associate banks),” he said, adding “we want to learn from this process and then go in for further consolidation.” However, no timeframe has been set for consolidation with the other associate banks of SBI, he said.

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