State Bank Of India

State Bank of India (SBI), the country’s largest public sector lender, has received its shareholders' approval to raise up to Rs 15,000 crore. This fund to be raised will help the bank to meet global risk norms under Basel III, which the banks needs to be fully compliant with by March 2019.

The money can be raised by either of the ways including public issue, rights issue or private placement, such as qualified institutional placement (QIP) or Global Depository Receipt (GDR) or American Depository Receipt (ADR) or any another mode or a combination, as may be decided by the Board.  The issue will be subject to the condition that the Government shareholding in the bank's equity share capital does not fall below 52 per cent at any point of time.