Government to Infuse Rs. 5,000 Crore in PSU Banks – Feedback

Government will infuse about Rs. 5,000 crore capital in the public sector banks in the current fiscal to strengthen balancesheet.

“As committed, banks will get fund infusion in the fourth quarter. Banks will get about Rs. 5,000 crore,” Financial Services Secretary Ajuly Chib Duggal said on the sidelines of an event here. Funds would be infused after Parliament approves third Supplementary Demand for Grants in the upcoming Budget session. Last year, the government announced a revamp plan ‘Indradhanush’ to infuse Rs. 70,000 crore in state-owned banks over four years, while they will have to raise a further Rs. 1.1 lakh crore from the markets to meet their capital requirements in line with global risk norms Basel III.

http://profit.ndtv.com/news/budget/article-government-to-infuse-funds-in-psu-banks-1273180

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