Government has sought more details from State Bank of India on its proposed Rs 20,000-crore rights issue plan, financial services secretary R Gopalan said on Wednesday.
Last month, the country?s biggest lender submitted a proposal to the finance ministry for a rights issue of shares. ?We are still examining the rights issue. We have sought details on certain numbers on SBI. We will look at their response,? Gopalan told reporters on the sidelines of a conference.
Earlier, SBI chairman OP Bhatt said the bank would go for a follow-on public offer if its rights issue plan is rejected.
The financial services secretary also expressed confidence the Reserve Bank of India would issue banking licences to new entrants by March 2011. ?We hope RBI will issue at least one banking licence by the end of the financial year,? he said.
Gopalan also said Indian banks were well placed to meet the Basel-III norms although some banks may need capital infusion to meet prudential norms in coming years.
