SBI waives off IMPS, NEFT and RTGS charges
SBI waives off IMPS, NEFT and RTGS charges

New Delhi: The State Bank of India (SBI) said it is well-capitalised and that it may not require any fresh funds from the government this financial year.

On Friday, finance minister Nirmala Sitharaman had announced an immediate infusion of Rs 70,000 crore into state-run banks to boost liquidity and their lending capacity by Rs 5 trillion.

The government had planned a staggered infusion earlier, but the rising tide of bad news on the economy forced its hand to open the purse-strings earlier.

"For SBI, we are not looking at any recapitalisation right now as we are well-capitalised as we have been able to raise from markets. We have also announced our programme for both tier I and tier II bonds," managing director Arijit Basu told reporters on the sidelines of an event organised by the industry lobby Indian Chamber of Commerce.

He said the upfront capital infusion will be for those banks which are not in shape to access the market immediately. Basu said SBI is also looking selling its investment in non-core assets to raise capital.

"We have already announced that SBI Cards IPO. We are also looking at some of the other subsidiaries. It is working according to the plan. That is one of the measures by which capital will be coming in," Basu said.

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