New Delhi: State Bank of India chairman Rajnish Kumar on Thursday said the bank does not need any capital from the government. "SBI doesn't need any capital from the government," Kumar said after a meeting with the Finance Minister for pre-Budget consultations with bankers where capital infusion in PSU banks was discussed. In March this year, the SBI raised ₹1,251 crore in bonds to boost its additional tier 1 capital ratio while its board has extended the deadline to raise ₹20,000 crore till March next year. Tier 1 capital is calculated as Common Equity Tier 1 (CET1) capital plus Additional Tier 1 (AT1) capital. For the full-year ended March, the bank reported a net profit of ₹862 crore against a net loss of ₹6,547 crore in FY18.

Source: Mint June 13, 2019 12:22 UTC