Tuesday, May 21News That Matters

Govt to infuse Rs 83,000 crore in PSBs in next few months :

The government will infuse 83000 crore in Public Sector Banks in next few months in the current fiscal.

Briefing media in New Delhi on Thursday evening, Finance Minister Arun Jaitley said the recapitalisation will enhance the lending capacity of state-owned banks and help them come out of the RBI’s Prompt Corrective Action, PCA framework.

He further said recognition of non-performing assets in the public sector banks is complete, and the downslide in bad loans has begun.

The government on Thursday moved proposal in Parliament for enhanced bank recapitalisation outlay from Rs 65 thousand crore rupees to one lakh six thousand crore rupees in the current financial year to propel economic growth.

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