SBI and BoB approve issuance of shares on preferential basis to GoI
Q. Which two public lenders have approved issuance of shares on preferential basis to government in lieu of capital infusion of INR 5393 crore and INR 1786 crore respectively?- Published on 02 Oct 15a. SBI and State Bank of Travancore
b. SBI and State Bank of Patiala
c. Central Bank of India and Bank of Baroda
d. SBI and Bank of Baroda
ANSWER: SBI and Bank of Baroda
Public lending financial institutions SBI and BoB have indicated on 30th September 2015 that they have approved the issuance of shares on preferential basis to GoI in lieu of capital infusion of INR 5393 crore and INR 1786 crore respectively. SBI has indicated in a BSE filing that Committee of Directors for Capital Raising considered and accorded approval for allotting 19,65,59,390 shares on preferential basis to GoI. Government in August 2015 had made the decision to infuse INR 20,088 crore in 13 PSU banks. This includes PNB, IDBI, BoI, Union Bank of India, Corporation Bank and Canara Bank.
