SBI Rights Issue Gets Cabinet Approval

Proposed SBI Rights issue got the cabinet nod for an esitmated 16000 crore for rights issue. SBI is leading Public sector bank of India and the bank likes to raise funds for meeting the strong credit demand. SBI has been waiting for this approval from long term to raise funds and the cabinets nod to the issue is a major boost to the banks expansion plans. Ratio of SBI Rights issue and the SBI Rights issue record date will be announced later after the meeting of the board. More updates regarding the State Bank of India Rights issue will be updated here.