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.
Delhi Chief Minister Arvind Kejriwal, arrested in the Delhi Excise Scam case, had filed a petitio
Stand-up comedian Munawar Faruqui tied the knot with makeup artist Mehzabeen Coatwala two years a
The Shri Mata Vaishno Devi Shrine Board (SMVDSB) has issued comprehensive guidelines to ensure th
Shortest Day: Earth again broke its record, completed its rotation in less than 24 hours
The Earth, which has been circling the Sun for centuries, has once again broken its record and cr
Kaya Skin Clinic puts down Beauty tips in Book
New Delhi, Feb 4 (IANS) "How to Look Like a Million Bucks" is a book launched by Kaya Skin Clin
It has been more than a month since the Israel-Hamas war started after October 7. The Israeli arm
Gorakhpur: Fifth accused in Manish murder case arrested, sub-inspector Vijay Yadav still absconding
Another accused policeman of the Kanpur businessman Manish Gupta murder case was arrested. Head c
The number of corona patients in the country has crossed 36 lakh on Sunday. In the last 24 hours,
Hooda government favoured Vadra in land deals: CAG
Chandigarh, March 25 (IANS) The CAG has blamed Haryana's previous Congress government led by th
BJP chides Sadhvi for anti-Muslim statement
Lucknow, Feb 2 (IANS) The BJP Monday warned Sadhvi Prachi, one of its leaders in Uttar Pradesh,
