State Bank of India (SBI) will approach Moody's to take a relook at its rating of the bank. This comes in the backdrop of increase in capital of the bank.
Prathip Chaudhuri, chairman, SBI said, "As our capital position has strengthned now, we will go back to them (Moody's) to rate us again."
According to SBI's CGM Sharad Sharma, "One major issue which they had with us when they were rating was related to uncertainity of our capital. Since we got it now we will approach them to reconsider their rating."
The bank has received around Rs 8,000 crore from the government, besides it got Rs 11,000 crore from the profit it made.
