As part of the recapitalisation plan of the state-run banks, government infused Rs 3,004 crore in
India's largest bank State Bank of India (SBI).
Post-infusion, the share holding of the government in the bank has increased from 61.58 to 62.31 per cent.
The bank on Tuesday said that the
government infused the money through subscribing to preferential allotment of 1.29 crore equity shares at the issue price of Rs 2,312.78 per share.
"We are confident that with this capital infusion, we will meet the capital adequacy requirement prescribed by Reserve Bank," SBI said.
Earlier, SBI Chairman Pratip Chaudhuri had said that the bank was likely to attain a tier-I capital of around 10 per cent by the end of the fiscal with capital infusion from the government along with accrual of profits.
Government plans to infuse around Rs 14,000 crore in state-run banks this fiscal to boost their core capital ratios as they prepare to comply with the Basel-III guidelines, which will start from next month.
With PTI inputs 
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