Govt allocates Rs 22,915 cr capital to 13 PSU banks for FY17
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Government has allocated 22,915 crore rupees capital to 13 public sector banks for the current fiscal. An official release said government has undertaken an exercise to assess the capitalization needs of Public Sector Banks in line with the announcements made under the Union Budget.
The capital infusion exercise is based on an assessment of need as assessed from the Compound Annual Growth Rate of credit growth for the last five years, and banks’ own projections of credit growth. Consequent upon the exercise, 75 percent of the amount collected for each bank is being released now to provide liquidity support for lending operations as also to enable banks to raise funds from the market. The remaining amount will be released later based on performance. #casansaar
The capital infusion exercise is based on an assessment of need as assessed from the Compound Annual Growth Rate of credit growth for the last five years, and banks’ own projections of credit growth. Consequent upon the exercise, 75 percent of the amount collected for each bank is being released now to provide liquidity support for lending operations as also to enable banks to raise funds from the market. The remaining amount will be released later based on performance. #casansaar
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