Sufficient Capital to be Made Available for PSBs: Das

Posted By: Religare
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    Economic Affairs Secretary Shaktikanta Das has asserted that adequate capital will be made available for state-owned banks and every amount of tax payers' money given would be linked to their performance, said media reports.

    Commenting on the issue, Economic Affairs Secretary Shaktikanta Das told the media, "The easier solution people have been talking about the problem of balance sheet of the banks, the problem of NPA is to provide more capital, inject more capital into the banks."

    As on September 30, 2016 gross NPAs of public sector banks rose to Rs 6,30,323 crore as against Rs 5,50,346 crore by June end. This represents an increase of Rs 79,977 crore on quarter on quarter basis. To clean up balance sheet, the government has announced plans to recapitalise the PSU banks.

    As per reports, the Government has already announced fund infusion of Rs 22,915 crore, out of the Rs 25,000 crore earmarked for 13 PSBs for the current fiscal. Of this, 75 per cent has already been released to them.

    Read more about: capital tax balance sheet psu banks
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