Friday, 6 January 2017

Government to soon finalise 2nd tranche of capital infusion in PSBs

Finance Ministry is likely to finalise the second tranche of capital infusion in public sector banks in the next three weeks, reported PTI. The decision on the second round of capital infusion is slated to be crystallised before the Budget, media reports said.

The government has already announced fund infusion of Rs 22,915 crore, out of the Rs 25,000 crore earmarked for 13 PSBs for the current fiscal. Of this, 75 per cent has already been released to them.

The remaining amount will be linked to performance with particular reference to greater efficiency, growth of both credit and deposits and reduction in the cost of operations, the Finance Ministry had said. The first tranche was announced with the objective of enhancing their lending operations and enabling them to raise more money from the market.

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