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India govt likely to infuse $544 mln in FY13 - SBI head
January 7, 2013 / 9:11 AM / in 5 years

India govt likely to infuse $544 mln in FY13 - SBI head

NEW DELHI, Jan 7 (Reuters) - The Indian government has indicated a capital infusion of 30 billion rupees ($544.32 million) into State Bank of India in the current fiscal year ending in March 2013, the bank’s chairman said on Monday.

The infusion into the country’s biggest bank will be done through a preferential allotment of shares, Pratip Chaudhury told reporters.

Capital infusion plans for the next financial year have not been finalised yet, Chaudhury added.

$1 = 55.1150 Indian rupees Reporting by Arup Roychoudhury; Editing by Sunil Nair

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