The quantum of capital support would be worked out post EY gives its report, though DIPAM sources said that anywhere between Rs 9,000 crore and Rs 10,000 crore capital support would be required for the insurers to bring them in pink of health.
Kumar further said Punjab National Bank will get Rs 5,908 crore, Union Bank of India Rs 4,112 crore, Andhra Bank Rs 3,256 crore and Syndicate Bank Rs 1,603 crore.
The amount infused will help the banks meet regulatory capital requirement, and its disbursement might take place before December 31, PTI reported quoting sources.
"Today we have asked for the parliamentary sanction for (issuing) additional recapitalisation bonds of Rs 41,000 crore... As of today, of the Rs 65,000 crore recapitalisation plan for 2018-19, Rs 42,000 crore is still remaining.
The Rs 80,000-crore expenditure has been sought by the government in form of the Third Batch of Supplementary Demands for Grants for 2017-18.
The Centre has announced recapitalisation plan of Rs 2.11 lakh crore for public sector banks
Interest burden of Rs 1.35 lakh crore recapitalisation bonds on the government would be about Rs 9,000 crore, Chief Economic Adviser Arvind Subramanian said on Tuesday.
The Union Cabinet on Tuesday announced an aggressive Rs 2.11 lakh crore capital infusion for the NPA-hit public sector banks (PSBs) over a period of two years.
Mumbai: Country's largest bank SBI today dismissed the concerns raised by Moody's while downgrading its debt rating, saying that the issues cited by the global credit ratings agency are "overblown and misplaced"."We had explained our
Top News
Latest News
