Finance Minister Arun Jaitley says, that recapitalization of 2.4 lakh crore rupees by public sector banks over the next four years is the priority of the Government. Inaugurating the 5111th Branch of Canara Bank in New Delhi today, Finance Minister Arun Jaitley said, the capital will be raised by the banks without diluting public sector characteristics in them, so that the Government stake in the banks would remain over 51 per cent.The Minister said that with the Government holding majority stake and public directly investing in these banks will help in expanding and increasing the whole process of financial inclusion.At present, 58 per cent of the population has bank account. However, Jaitley said this programme has to be rapidly expanded so that the remaining 42 per cent of financially excluded population may be brought into the banking system.
News On AIR | July 19, 2014 8:11 PM
Govt: Recapitalization of Rs 2.4 lakh cr by PSBs over next 4 yrs is priority