SBI approves preferential allotment of shares to the Government of India @ 2312.78.

State Bank of India, country’s biggest commercial bank in terms of branch network, said that the Executive Committee of Central Board (ECCB) of the bank at its meeting held on Saturday, 23 February 2013, has approved preferential allotment of equity shares to the Government of India (GoI) to the tune of up to Rs 3004 crore to enable the bank to support national and international banking operations undertaken through its Subsidiaries and Associates. The preferential issue has been priced at Rs 2,312.78 per share.