RETAIL BANKING | Tony Chua, India

SBI: Business as usual even without government funding in FY2011

State Bank of India can continue its growth this financial year even if the Indian government's proposed capital infusion doesn't take place, a top executive said Tuesday.

The bank--India's largest state-run lender by assets--is looking to bolster its capital base to keep up with its fast-growing loan portfolio and expects to raise additional capital from the Indian government.

"But, we will definitely need to raise funding [from the government] next year," Diwakar Gupta, the bank's chief financial officer, told reporters.

According to a report in Fox Business, Gupta, also a managing director at the bank, said the bank can look at other options such as raising funds via the issue of retail bonds in case the government's fund infusion doesn't happen.

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