State Bank of India pitches for cut in repo rate, CRR

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SBI Chairman Pratip Chaudhuri today said the move will boost investment and growth.  (Reuters) SBI Chairman Pratip Chaudhuri today said the move will boost investment and growth. (Reuters)
SummarySBI Chairman Pratip Chaudhuri today said the move will boost investment and growth.

fiscal.

This was part of Rs 12,000 crore infusion plan approved by the Finance Ministry recently.

Last fiscal, the government had infused Rs 7,900 crore in SBI to increase the Tier-I capital of the country's largest bank. Following the capital infusion in March last year, the government holding in SBI rose to 61.58 per cent from 59.4 per cent.

The government was infusing funds in public sector banks in the last couple of years to strengthen finances, Chaudhuri said.

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