
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.
The second day of the Commonwealth Games 2022 is on Saturday. 23 gold will be at stake on this da
Delhi Campaign: Flash Mobs, Magic Shows, Street Plays regale voters
New Delhi, Feb 4 (IANS) The Delhi assembly poll campaign has been one of the most boisterous an
The central government is very serious about one country's election. The government is likely to
Rocky Bhai aka actor Yash, who created a blast at the box office through 'KGF' and 'KGF 2', has b
People across the world, including India, America, and Pakistan, are suffering due to inflation.
JEE Main Admit Card 2023: Admit card for JEE Main April session released, download from this link
JEE Main Admit Card 2023 Session 2: The admit cards of the candidates who applied for appearing i
General Mark Milley and Syed Asim Munir Talks: A day after the terrorist attack in Kabul, General
Coronavirus has again gained momentum in the country. The pace of getting patients has increased
Meta-owned messaging platform WhatsApp is preparing to introduce a major privacy-focused feature
February 16, 2022...today is the date when the Russian invasion of Ukraine is being feared. Apart