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  • 3 PSU banks mull rights issue (Business Standard 11th Dec 2007)Union Bank of India, Dena Bank, Oriental Bank of Commerce, the state-run lenders with the government stake below 55 per cent, will be considering rights issues to raise capital for meeting the Basel-II norms and support business growth. The government has given clearance for State Bank of India’s (SBI) proposed Rs 17,000 crore rights issue by agreeing to invest Rs 10,000 crore to maintain its stake at the current level of 59.73 per cent.
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