SBI Plans To Rise Rs 10,000 Cr By Dec 2007

SBI Chairman O P Bhatt is doing the balancing act trying to raise much needed capital for his bank while dealing with government''s reluctance to reduce its stake in the country''s largest public sector bank.While final decisions are still awaited, O P Bhatt indicated that the bank will finish raising capital this year.The bank is planning to raise Rs 10,000 crore and despite the delays fund raising is expected to be completed by December this year.O P Bhatt also said that a follow-on public issue remains the preferred option but other fund raising options like rights issue are also being considered.The flip-flop over SBI''s fund raising plans continues as the government tries to make up its mind. But it is not just SBI that is waiting for cues from North Block, other public sector banks are also looking for cues so that they can finalize their fund raising plans.