Govt to seek Parliament nod on fund infusion in PSU Banks
Written by psuIndiaAdmin Thursday, 20 October 2011 14:06
The government will seek Parliament's nod for additional funds for capitalising state-run banks, if required. "If additional sum is required, I will go for the second supplementary (in the Winter Session)," Finance Minister Pranab Mukherjee said, adding that the government was committed to maintaining 8% tier-I capital adequacy ration in all banks.
Financial Services Secretary DK Mittal said the state-run banks, including State Bank of India, needed 10,000-20,000 crore during the current year. The budget had provided for 6,000 crore for bank capitalisation. SBI, Bank of India, Bank of Baroda, Syndicate Bank and Indian Bank will need capital infusion during the current fiscal. SBI had sought government nod for a 20,000-crore rights issue. But the government ruled out rights issue of SBI this fiscal.
Source : ET
Financial Services Secretary DK Mittal said the state-run banks, including State Bank of India, needed 10,000-20,000 crore during the current year. The budget had provided for 6,000 crore for bank capitalisation. SBI, Bank of India, Bank of Baroda, Syndicate Bank and Indian Bank will need capital infusion during the current fiscal. SBI had sought government nod for a 20,000-crore rights issue. But the government ruled out rights issue of SBI this fiscal.
Source : ET
Similar articles
- Vedanta to seek shareholders’ nod next month, open offer in Jan
- Aviation Min to seek govt nod for hiving off AI's ground-handling business
- Decision on second capital infusion into PSU banks by Dec
- Govt to hard-sell divestment offerings as it faces competition from Chinese IPO
- Hospitals to give discounts to patients with health cover from Big 4 PSU health insurers
 |
 |
 |
