On Wednesday the State Bank of India said that the finance ministry at the center had asked for more and clear details on the proposed Rs. 20,000 right issue of the bank. The chairman of the banking group said that the finance ministry came to him for some more information on the right issue.

Earlier in this month the chief of SBI had met the Financial Services Secretary R. Gopalan to discuss over the proposed right issue.

As a part of the resource rising plan of the bank, SBI filed the draft prospectus with the SEBI to raise its resources up to Rs. 1000 crore by issuing of bonds to the retail investors in this week. SBI aims to deploy the proceeds to grow its capital base with its growth strategy.

This happened for the first time in this country that any bank is issuing bonds for its retail investors where the minimum amount for application is decided at Rs. 10000.

At the same time the bank said to extend its 8% concessional home loan scheme by the rest three months of this year till the end of December