The Finance Ministry has allowed seven public sector banks (PSBs) to tap markets for raising capital needed for expansion and meeting global capital adequacy norms. Citing fiscal constraints to allocate more Budgetary resources for capital infusion in Public Sector Banks, the government said that banks have to tap the market when required for strengthening their capital base. The government said this yesterday after holding a performance review of the PSBs and PSU financial institutions for the quarter ending December, 2014. However, the statement did not disclose names of banks which have got government approval for raising capital through market.The government's decision to reduce the shareholding of PSBs to 52 per cent would also give these banks headroom to raise capital from the market. During the meeting, Finance Minister Arun Jaitley said the government will ensure financial autonomy to state-owned banks and asked PSB Chiefs to take commercial decision without fear or favour. An official statement said, the government had infused capital of 14,000 crore rupees in 2013-14 in 14 PSBs and decided to infuse 6,990 crore rupees in nine PSBs in 2014-15.