Nod for SBI's rights issue in 15 days

The government is likely to take a decision on public sector lender State Bank of India's proposed plan to raise about Rs 18,000 crore through a rights issue in the next fortnight.

"It is likely that the government would take a call on the capital-raising plan for SBI in the next 15 days," official sources said.

"The issue is awaiting the finance minister's approval. Once that is done, it will put it up before the Cabinet, which is likely to be done before the Parliament begins its Winter session," the sources said.

With the Parliament session likely to be advanced to November 14 because of the upcoming Gujarat elections, a note on SBI's capital raising plan may be put up before the Cabinet within a fortnight, they said.