SBI yet to decide on rights issue

Country’s largest commercial bank, State Bank of India (SBI) Wednesday said it will take a decision on whether to go for a rights issue or public offer in a month or two. “It is still taking shape. The decision would be take in a month or two,” SBI Chairman O P Bhatt said. The bank is planning to raise around Rs 15,000 crore during this fiscal through a mix of Tier I and Tier II bonds to meet credit requirements. SBI is also planning to set up a holding company for its asset management and insurance venture. The proposed company would be formed in 2-3 months, he said. When asked about revision of lending and deposit rates, he said the decision would be taken by the bank’s asset liability committee, which is scheduled to meet next week.