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 Karnataka High Court has drawn a line between Muslim Personal Law and the POCSO Act. In two s
In the last Super Four match of Asia Cup 2023 against Bangladesh, the Indian team had to face def
Civil Aviation Minister Jyotiraditya Sandhiya has reached Romania. Four special envoys have been
Jawan Collection Day 23: Shahrukh Khan's pace slowed down, lost even in earning Rs 10 crores
Jawan Collection Day 23: Shahrukh Khan's film 'Jawaan' continues to dominate the box office. The
Yadav, Bhushan again attack Kejriwal
New Delhi, March 11 (IANS) A week after being expelled from the AAP's key decision making body
In the last two years, more than 160 Chinese toy manufacturers have applied for a license for the
The budget for 2026-27, presented by Union Finance Minister Nirmala Sitharaman, did not announce
Despite drawing the Old Trafford Test against England brilliantly, the Indian team is looking for
The Embassy and Consulates of the United States of America in India have broken their records. Ar
Weather Update: The weather remains dry in most of the states of the country. Due to the rapid dr
