The Finance Ministry is preparing a roadmap for providing long-term capital support to public sector banks. Banking Secretary D K Mittal told reporters in New Delhi today that the Ministry is examining proposals for capital requirement of banks during the current fiscal as well as capital requirement over the long-term. Mr. Mittal said that for the current fiscal, the public sector banks require a capital infusion between 10,000 crore rupees to 20,000 crore rupees. He added that these banks will require nearly 3.5 lakh crore rupees in the next 10 years. AIR Correspondent reports that the Government has already earmarked 6,000 crore rupees towards capital infusion in the state-owned banks during 2011-12.He said an additional amount will be sought through the second batch of supplementary demands for grants to be tabled in the Winter Session of Parliament.
News On AIR | October 21, 2011 2:54 PM
FinMin to devise capital support plan to for public sector banks