SBI to Launch Mediclaim Facility by February

India's largest money lender, State Bank of India (SBI), will soon launch mediclaim and accidental insurance facilities for its savings bank account holders. The scheme is likely to be launched in January last or February, 2012, SBI chairman Pratip Chaudhuri said.

'We are holding a meeting of SBI general managers in Lucknow, in which the contours of the insurance scheme would be given the final shape before it is launched in the New Year,' Chaudhuri said. On SBI's recapitalization plans, Chaudhuri said the bank would secure about Rs 3,000-4,000 crore by March, or as early as this month.