SBI up 1% on likely fund infusion in FY13

Country's largest lender State Bank of India gained more than one percent on Monday as PTI reports suggest that the government has approved fund infusion of Rs 3,004 crore in the bank during the current fiscal.

Recently after Banking Amendment Bill getting passed in Lok Sabha, Finance Minister P Chidambaram had expressed the commitment of the government to infuse Rs 15,000 crore into public sector banks in the current financial year and retain their basic character.

At 10:56 hours IST, the stock rose 0.38 percent to Rs 2,342.50 on the Bombay Stock Exchange.

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