
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.
Ramlila Maidan spruced up for Kejriwal
New Delhi, Feb 13 (IANS) Exactly a year after he resigned and went into near oblivion, AAP lead
Bitcoins Frozen: ED seizes bitcoins worth more than 120 million, action in gaming app e-nuggets case
ED today took major action in a money laundering case related to gaming app e-nuggets. The Centra
The 20th match of IPL 2025 was played between RCB and Mumbai Indians. Batting first in this match
Restrictions in Srinagar after youth's death in police firing
Srinagar, Feb 10 (IANS) Restrictions were imposed in some areas of Srinagar Tuesday, a day afte
New Delhi, Feb 10 (IANS) "All the very best Delhiites," said AAP leader and former chief ministe
Agra gears up for Taj Mahotsav
Agra, Feb 17 (IANS) Undeterred by the swine flue scare, people in Agra are in full celebratory
Delhi HC slams civic bodies over poor condition of kids' parks
New Delhi, March 25 (IANS) The Delhi High Court on Wednesday slammed the civic authorities in t
Ghibli Trend: OpenAI changed the rules for Ghibli-style photos, now real-world images cannot be used
These days, Ghibli-style pictures are being seen in abundance on social media. It can be said tha
Smartphone manufacturer OPPO has launched Reno 5 and Reno 5 Pro mobiles. Although these smartphon
Twitter: India has the highest demand for removal of tweets of journalists, second only to America
Social media company Twitter claims that in the second half of last year, India had made the high