Five associates of State Bank of India (SBI) would raise about Rs 33,000 crore capital to meet global risk norms — Basel III — in the next five years.
‘It has been estimated that Rs 32,831 crore total capital is required under the Basel III capital adequacy framework for all SBI subsidiary banks between 2014-15 and 2018-19,’ a senior SBI official said. Part of the fund would be raised by the market while remaining would be provided by the parent SBI, the official added. The country’s largest lender has five associate banks — State Bank of Bikaner and Jaipur, State Bank of Travancore, State Bank of Patiala, State Bank of Mysore and State Bank of Hyderabad.