The true spirit of bold reforms lies in doing the right thing at right time no matter what the public opinion is
The solution is once the ongoing clean up exercise repairs the books of these banks, the government should work out a road map to privatise these entities
International rating agency S&P Global Ratings today said that Indian state-run banks will need Rs 2.5 lakh crore capital infusion over the next three years to meet Basel-III requirements.
Last week, the government announced a Rs 22,915 crore capital infusion into 13 PSBs. Of this, IOB received Rs 3,101 crore and Central Bank got Rs 1,729 crore
Moody's estimates that the 11-rated PSBs need Rs 1.2 lakh crore capital to shore up their balance sheets, which far exceeds the Rs 45,000-crore budgeted
The Finance Ministry has finalised plan for the first round of capital infusion for public sector banks and funds would be granted to some of the lenders within next few weeks.
Government plans to inject Rs 45,000 crore into state banks over the three financial years to March 2019
Public sector banks (PSBs) will not be able to raise funds from the markets and government will have to provide capital support to them in the near term given their weak solvency position, Moody's has said.
Higher level of stress is likely to significantly impact earnings and solvency profile of PSBs over the next 2-3 years, Icra said
No government, whether the UPA or NDA or the mighty Reserve Bank of India (RBI) have been able to make any notable progress so far in improving the operations of PSBs.
The Finance Ministry is considering infusing more than the announced Rs 70,000 crore in public sector banks to help strengthen their balancesheets.
Earlier in the day, Finance Minister Arun Jaitley had sought Parliament nod for additional capital infusion of Rs 12,010 crore in public sector banks.
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State-owned Air India will get around Rs 3,000 crore more in the later part of this fiscal from the government towards capital infusion.
State Bank of India (SBI) today announced it will get Rs 3,004 crore as part of the government's capital infusion plan for the current fiscal.
The government has approved the first tranche of Rs 12,000 crore fund infusion in state-owned banks, a move aimed at enhancing their capital base, a senior official said.
State Bank of India today said it is expecting around Rs 4,000 crore infusion from government this fiscal that will ramp up its capital base to over 13 percent