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SBI to allot shares to Govt for Capital Infusion

Country’s largest lender SBI on Saturday said it will issue equity shares on preferential basis to the government for capital infusion of Rs 5,681 crore.
●    The bank has also sought approval from government and RBI to increase the issued capital by raising additional equity share capital up to Rs 5,681 crore by way of preferential issue to the government.
●    State Bank of India (SBI) is an Indian multinational, public sector banking and financial services company. 
●    It is a government-owned corporation with its headquarters in Mumbai, Maharashtra. 
●    The company is ranked 232nd on the Fortune Global 500 list of the world's biggest corporations as of 2016.
●    As of 2014–15, the bank had 191 overseas offices spread over 36 countries. 
●    It has branches in Singapore, Moscow, Colombo, Dhaka, Frankfurt, Hong Kong, Tehran, Johannesburg, London, Los Angeles, Maldives, Muscat, Dubai, New York, Osaka, Sydney, and Tokyo.

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