More capital infusion in SBI this fiscal

The Centre will infuse some more capital in State Bank of India during 2012-13, Mr D.K.Mittal, Financial Services Secretary, said here today.

This remark comes close on the heels of the Government pumping in nearly Rs 7,900 crore in SBI through a preferential allotment route last month.

Mr Mittal said that the Government would ensure a Tier-I capital of 11 per cent for SBI in the next two years. Currently, SBI's Tier-I capital is around 9 per cent. The Finance Minister, Mr Pranab Mukherjee, had in the Budget set aside about Rs 15,888 crore for recapitalisation of banks during the current fiscal.

He also said that key finance sector Bills including the one on PFRDA, IRDA will soon go to the Cabinet. They will be introduced in the second leg of the Budget session beginning April 24.

krsrivats@thehindu.co.in