India OKs 30-bln-rupee equity infusion in Nabard

NEW DELHI |
Tue Oct 25, 2011 1:00pm IST

NEW DELHI (Reuters) – The cabinet approved equity infusion of 30 billion rupees in state-run National Bank for Agriculture and Rural Development or Nabard, information and broadcast minister Ambika Soni said on Tuesday.

The Indian government has said it had plans to infuse capital in state-run banks and the largets lender State Bank of India is expected to receive funds worth 45-80 billion rupees by March 2012.

(Reporting by Nigam Prusty; Editing by Harish Nambiar)

Article source: http://feeds.reuters.com/~r/reuters/INbusinessNews/~3/obkcBQqCsrs/idINIndia-60105620111025

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