State Bank of Bikaner & Jaipur (SBBJ) has received an approval for raising of capital by additional Tier I of Rs 150 crore and Tier II capital of Rs 750 crore through suitable instrument(s) at an opportune time during Financial Year 2015-16. The board of directors at its meeting held on October 20, 2015 has approved for the same.
SBBJ is one of the five Associate Banks of SBI and has operations primarily in Rajasthan, with presence at all important centres in the country. Being an SBI Associate, SBBJ derives significant benefits from its use of State Bank brand name and logo, access to an extensive branch network including the ATM network and sharing of systems like the credit risk-rating model, treasury management and information technology (IT) systems with the parent.
