New Delhi, Feb 7 (IANS) The government has decided to infuse Rs.6,990 crore in nine public sector banks (PSBs), out of the current year's budget, for which orders are being issued, an official statement said here Saturday.
"This year, the government of India has adopted a new criteria in which the banks which are more efficient would only be rewarded with extra capital for their equity so that they can further strengthen their position," the statement said.
The methodology for arriving at the amount to be infused in these banks has been based on efficiency parameters.
"First of all, weighted average of return on assets (ROA) for all PSBs for last three years put together was arrived at and all those who were above the average have been considered.
"The second parameter that has been used is return on equity (ROE) for these banks for the last financial year. Those who have performed better than average have been rewarded," it added.
Stating that the central government is conscious of the fact that a lot of reforms are required in the PSBs, it arranged for the recent two-day retreat of chairman and managing directors of banks and financial institutions called 'Gyan Sangam' at Pune Jan 1 and 2, 2015.
"One of the general principle adopted during the Retreat was that efficient banks should be encouraged. For the last few years, Government of India has been infusing capital to those banks whose equity erosion has taken place," it said.
Therefore, this year, the government has adopted this new criteria in which the banks which are more efficient would only be rewarded with extra capital for their equity so that they can further strengthen their position, it added.
The banks that got infusion are - State Bank of India, Rs.2,970 crore; Bank of Baroda, Rs.1,260 crore; Punjab National Bank, Rs.870 crore; Canara Bank, Rs.570 crore; Syndicate Bank, Rs.460 crore; Allahabad Bank, Rs.320 crore; Indian Bank, Rs.280 crore; Dena Bank, Rs.140 crore and Andhra Bank, Rs.120 crore.
After Rajasthan, now Maharashtra has also started genome sequencing regarding the lumpy virus, bu
The date of linking the Aadhaar card with PAN has been extended till 30 June. The Income Tax Depa
Indian Army's Air Defense Chief Lieutenant General Sumer Ivan D'Cunha made a big disclosure on Op
West Bengal: 'Situation like Bangladesh in Bengal', BJP attacks Mamata government
The BJP has expressed concern over the deteriorating law and order situation in Bengal. The party
NIA court has announced the punishment of 9 terrorists in the serial bomb blast case at Gandhi Ma
Pushpa Kamal Dahal alias Prachanda will be the next Prime Minister of Nepal. President Vidya Devi
Ravichandran Ashwin, the world's number-one Test bowler, did not get a chance to play in the fina
Pakistan Electronic Media Regulatory Authority (PEMRA) has issued new guidelines for TV channels.
Prime Minister Narendra Modi will address the inaugural session of the All India Conference of La
Four swine flu cases in Gwalior
Gwalior, Feb 3 (IANS) Four cases of swine flu have been reported in Gwalior district so far, sa
