 "SBI to take a call on overseas funding in November")
State Bank of India, the country’s biggest lender, will take a call on raising funds through medium term notes (MTN) in November, its managing director Hemant Contractor told reporters on Friday.
“If the MTN happens, it will be upwards of $500 million,” Contractor said at a press conference.
[caption id=“attachment_113667” align=“alignleft” width=“380” caption=“Moody’s recently downgraded SBI’s standalone rating due to poor Tier I capital ratio and deteriorating asset quality. Reuters”]  [/caption]
Yesterday, the bank’s CFO Diwakar Gupta said State Bank of India would require Rs 7,900 crore to keep its Tier I capital at 8 percent as per RBI guidelines.
“The bank needs Rs 7,900 crore for Tier I capital at 8 percent. Now, the Tier I capital stands at 7.6 per cent,” SBI Managing Director and CFO of SBI Diwakar Gupta said.
He said that infusion of funds by the government would help the bank in raising Tier I (equity) capital.
Moody’s recently downgraded SBI’s standalone rating due to poor Tier I capital ratio and deteriorating asset quality.
Reuters
 "Israel targets top Hamas leaders in Doha; Qatar, Iran condemn strike as violation of sovereignty")
 "Nepal: Oli to continue until new PM is sworn in, nation on edge as all branches of govt torched")
 "Who is CP Radhakrishnan, India's next vice-president?")
 "Israel informed US ahead of strikes on Hamas leaders in Doha, says White House")
 "Israel targets top Hamas leaders in Doha; Qatar, Iran condemn strike as violation of sovereignty")
 "Nepal: Oli to continue until new PM is sworn in, nation on edge as all branches of govt torched")
 "Who is CP Radhakrishnan, India's next vice-president?")
 "Israel informed US ahead of strikes on Hamas leaders in Doha, says White House")
](https://images.firstpost.com/wp-content/uploads/2011/10/sbi3.jpg){kind=link}