KOLKATA -- State Bank of India, the country's largest lender by assets, plans to raise 200 billion rupees ($4.07 billion) in the current financial year that began April 1, its chairman and managing director said Friday.
"We need capital for growth," O. P. Bhatt told reporters on the sidelines of a book release in the eastern Indian city. "There are several ways in which we can raise capital. My preferred option would be a rights issue." Earlier last month, Mr. Bhatt had said the bank would need 600 billion rupees to 700 billion rupees over the next five years to fund its growth. http://online.wsj.com/article/SB124178022567500449.html -- We must have friendship for all; we must be merciful toward those that are in misery; when people are happy, we ought to be happy; and to the wicked we must be indifferent. These attitudes will make the mind peaceful. *Swami Vivekananda* --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en -~----------~----~----~----~------~----~------~--~---
