Latest


Govt announces Rs 48,239 crore recapitalisation plan for 12 public sector banks

  •   Wed, Feb 20 2019 07:25:27 PM

New Delhi, Feb 20(PTI): The finance ministry on Wednesday announced to pump in Rs 48,239 crore in 12 public sector banks in this fiscal to help them maintain regulatory capital requirements and finance growth plans.

Financial Services Secretary Rajiv Kumar said that the government will infuse Rs 9,086 crore in Corporation Bank and Rs 6,896 crore in Allahabad Bank - the two "better-performing" banks currently under the Prompt Corrective Action (PCA) supervision of the RBI.

 

Further, Rs 4,638 crore and Rs 205 crore will be provided to Bank of India and Bank of Maharashtra. These banks have recently come out of the regulatory supervisory framework PCA of the RBI.

Kumar further said Punjab National Bank will get Rs 5,908 crore, Union Bank of India Rs 4,112 crore, Andhra Bank Rs 3,256 crore and Syndicate Bank Rs 1,603 crore.

The government will pump in Rs 12,535 crore in four other banks under PCA - Central Bank of India, United Bank, UCO Bank and Indian Overseas Bank. The government in December had infused Rs 28,615 crore into seven public sector banks (PSBs) through recapitalisation bonds.
  

Top Stories

Mangaluru: Luxury residential apartment ‘Divine Grace’ inaugurated

  •   1 hour ago   

Mangaluru: Walk-in Aikya residential apartment inaugurated at Bikarnakatte

  •   21 hours ago    1

Comment on this article

  • SmR, Karkala

    Wed, Feb 20 2019

    For ‘Achchhe Din’ in 2019, the govt was eyeing the RBI treasury for a long time proved that new RBI Governor PM Modi’s became a cash cow for Elections.
    When the citizens of a nation are busy with Pulwama attack on CRPF, RBI agrees to transfer Rs 28,000 crore interim dividend to Modi govt. So, the newly appointed Governor Shaktikanta Das happily concede RBI’s precious reserves to a struggling government already having crossed 103% of its fiscal deficit target by October 2018.
    The interim surplus that will be transferred will be nearly triple of what was paid last year (Rs 10,000 crore) and will take the total dividend from the central bank to Rs 68,000 crore in the current fiscal.

    A dividend is an amount transferred to the Centre by the RBI, which generates revenue from trading in bonds and currencies. While some of this money goes towards building the central bank’s reserves, the remainder is transferred to the Centre.
    1. Is Mr. Modi hoping to utilize that huge windfall for some generous sops in an election year to save his fast-dissipating credibility?
    2. Is the future of RBI now going to be determined by voodoo economists, RSS ideologues and government-appointed cheerleaders with no knowledge of FX markets, interest rate risks and regulatory mechanisms?
    PM Modi’s government has been pushing the RBI for more money ahead of what is expected to be a tight national election due by May.
    Earlier Modi government demanded Rs3.6 lakh crores to fix the economic mess it created after 'Demonetisation'.
    As a row flared over fears that the central bank’s independence was being eroded, RBI governor Urjit Patel abruptly quit and was replaced by former finance ministry official Shaktikanta Das.
    The New RBI Governor Das's educational qualification is MA History. Hope and Pray he doesn't make RBI also a History.
    Nirav Modi's loot Indian banks & settle in tax-free havens & Narendra Modi government recapitalize using RBI. Loot then make round-about to BJP party election campaign.
    JH

    DisAgree [1] Agree [9] Reply Report Abuse

  • mohan, Mangalore

    Wed, Feb 20 2019

    Looting RBI.....and loan to privet companies and to run away like nirav.. choksi..lalit modi.etc

    DisAgree [1] Agree [8] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Wed, Feb 20 2019

    Now people from Gujarat will once again stand in Queue ...

    DisAgree [2] Agree [12] Reply Report Abuse

  • Jennifer, Mangalore

    Wed, Feb 20 2019

    Apparently RBI loot is over !

    DisAgree [3] Agree [17] Reply Report Abuse

  • vasu, Mangalore

    Wed, Feb 20 2019

    Do you know what is loot.. 48239 Crores has been invested as capital.read what is capital.The congress government could not invest anything..Appreciate when it is due.

    DisAgree [17] Agree [2] Reply Report Abuse

  • Jennifer, Mangalore

    Wed, Feb 20 2019

    "The congress government could not invest anything.." ????? You sound like India was handed over directly to Modi govt in May 2014 by the British. Had you any idea of the pittance available revenue then and what the economy grew upto by 2014 that MMS was the PM for two terms.

    Nevertheless, at-least Congress did not aim the RBI reserves ???

    DisAgree [2] Agree [20] Reply Report Abuse

  • vasu, Mangalore

    Thu, Feb 21 2019

    Stick to the point. Dont divert. Capitalization of banks was not done under MMS despite several warnings.The Bank basel requirement was one of the major reason for the country being downgraded by rating agencies.

    DisAgree Agree Report Abuse

  • David Pais, Mangalore

    Wed, Feb 20 2019

    In da congress peris banks were well performing & were in good profit. after 2014 chaiwala looted da banks.

    DisAgree Agree [14] Reply Report Abuse

  • vasu, Mangalore

    Thu, Feb 21 2019

    Please David. What kind of a stupid argument is this. The one who is cleaning the system is blamed..Wah..

    DisAgree Agree Report Abuse

  • Aubb, India / Kuwait

    Wed, Feb 20 2019

    @Vasu,

    I clearly see a 'saffron Economist" here!!

    DisAgree Agree [4] Reply Report Abuse


Leave a Comment

Title: Govt announces Rs 48,239 crore recapitalisation plan for 12 public sector banks



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.

You might also like