<article>India-based promoter of DLF KP Singh and his family will put Rs 10,000 crore ($1.5 billion) in DLF Ltd, and State Bank of India (SBI) is selling its non-core assets worth Rs 3,000 crore ($442 million).</article>

India-based promoter of DLF KP Singh and his family will put Rs 10,000 crore ($1.5 billion) in DLF Ltd, and State Bank of India (SBI) is selling its non-core assets worth Rs 3,000 crore ($442 million).
<h3 style="text-align: justify;">KP Singh to put $1.5b in DLF</h3>
KP Singh, the chairman of real estate developer <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=DLF" target="_blank">DLF Ltd</a>, will put Rs 10,000 crore ($1.5 billion) in the company to remove debt.
Singh is investing money along with his family in a two-step transaction, according to an Economic Times <a style="color: #000080;" href="http://economictimes.indiatimes.com/industry/services/property-/-cstruction/billionaire-kp-singh-to-make-dlf-debt-free-will-infuse-rs-10000-crore/articleshow/52963894.cms" target="_blank">report</a> citing sources.
They are planning to sell 40 per cent stake in DLF Cyber City Developers Ltd for Rs 12,000-13,000 crore. DLF will also raise around Rs 3,000 crore from institutional investors.
<h3 style="text-align: justify;">SBI selling non-core assets worth $442m</h3>
<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=sbi" target="_blank">State Bank of India</a> (SBI) is planning to sell its non-core assets of around Rs 3,000 crore, Business Standard <a style="color: #000080;" href="http://www.business-standard.com/article/finance/sbi-to-sell-non-core-assets-to-raise-rs-3k-cr-116062801224_1.html" target="_blank">reported</a>.
Despite the challenges that SBI faced last financial year, the bank is well capitalised to “absorb future shocks ” and maintain future growth trajectory, according to the state-run lender’s annual report for 2015-16.
After getting the Cabinet&#8217;s approval earlier this month for the merger of the five associate banks and Bharatiya Mahila Bank with SBI, the country&#8217;s largest lender is working on details of the amalgamation proposal, which will be submitted to the government soon for approval.
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KP Singh and his family will put Rs 10,000 crore ($1.5 billion) in DLF Ltd, and State Bank of India (SBI) is selling its non-core assets worth Rs 3,000 crore ($442 million).

India Digest: KP Singh to put $1.5b in DLF, SBI selling non-core assets worth $442m

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India Digest: KP Singh to put $1.5b in DLF, SBI selling non-core assets worth $442m

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