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Tuesday, January 12, 2016

SBI to monetise non-core assets

SBI said it is planning to monetise non-core assets and list some of its subsidiaries for meeting capital needs as well as global risk norms, Basel III, which will kick in from March 2019, according to the media reports.

Public sector banks need Rs. 1.80 lakh crore to meet Basel III norms, while the Government will provide only Rs. 70,000 crore, SBI chairperson Arundhati Bhattacharya said, adding that the rest will have to be borne by banks through profits and non-core assets.

“For instance, for us, we have a number of non-core assets which we are looking at monetising. We also have very successful subsidiaries which we have not listed. So, we can look at those as well,” she said at an Assocham event.