Saturday, August 15, 2015

PSBs to get ` 70, 000 cr over four years.

Public sector banks (PSBs) will get `70,000 crore as capital over a period of four years. The first
installment of `25,000 crore has been marked for this fiscal.

  • About 40% to be given this fiscal year to banks that requires support to raise their capital adequacy to 7.5%.
  • 40% capital will be allocated to the top six banks: SBI, Bank of Baroda, Bank of India, PNB, canara Bank and IDBI;
  •  20% to be allocated to the banks based on their performance during the reminder of the next fiscal year. This will incentivise them to improve their performance. (A Finance Ministry release)

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