State Bank Of India

State Bank of India (SBI) is planning to raise Rs 5,681 crore by issuance of preferential shares to the central government, its majority shareholder. The funds raised will help the bank meet global risk norms, Basel III, which will kick in from March 2019.

Earlier this month, SBI had said it would also take fresh approval to raise up to Rs 15,000 crore through various means, including public offer and overseas issuance of shares.

SBI offers a wide range of services in the Personal Banking, Agriculture/Rural, NRI services, SME and Corporate Banking etc. The Bank has reported 34.56% fall in its net profit at Rs 2,538.32 crore for second quarter ended September 30, 2016 as compared to Rs 3879.07 crore for the same quarter in the previous year.