
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.
Afghanistan skipper Nabi blames losing early wickets for loss
Canberra, Feb 18 (IANS) Afghanistan skipper Mohammad Nabi rued losing too many wickets upfront
On Monday, the figure of corona patients in the country reached 22 lakh 67 thousand 153. It is a
In the last two years, more than 160 Chinese toy manufacturers have applied for a license for the
Only 14 contestants remain in the controversial reality show Bigg Boss Season 19. Zeeshan Quadri
A new revelation has been made in the case of the attack on Delhi Chief Minister Rekha Gupta. Del
Bully bai app: Mischief of Uttarakhand woman and engineer, both arrested
Mumbai Police has arrested a woman, the main accused in the 'Bully Bai' case. The woman is accuse
The growing transition of the second wave of Corona in Rajasthan has exposed the entire system. T
iPhone 18 Pro vs iPhone 17 Pro: Major Camera Upgrade or Just Hype? Check the Differences
Apple's upcoming Pro iPhone is expected to bring significant camera changes, according to recent
The final match of the 18th season of the Indian Premier League (IPL) is to be played today. Wher
A letter from Mumbai resident Faizan Ansari is going viral. In it, he is demanding the arrest of