IndiaCatalog.com
India News
Search Web Directory
News Home
Government approves second tranche of capital infusion in PSU banks
Posted on 18th March 2017
The government has approved the second tranche of capital infusion in public sector banks to enhance their capital base. In a regulatory filing to the stock exchanges, Dena Bank said it “has received a communication from Government of India vide its letter… dated March 16, 2017 informing inter alia capital allocation of Rs 600 crore as part of turnaround linked infusion plan.” Kolkata-based United Bank of India too said it has received a communication from the central government regarding capital allocation of Rs 418 crore as part of turnaround linked capital infusion plan.

The proposal for allotment of equity shares of face value of Rs 10 each at premium to the President of India acting on behalf of the central government by way of preferential allotment will be taken up at the board meeting at March 27, the bank said.

Dena Bank said “the board approval for raising of capital of the bank through issue of equity shares to Government of India, LIC of India and GIC of India on preferential basis, is being obtained.”

The second round of funding entailing about Rs 8,000 crore is based on strict parameters.

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.

The first tranche was announced in July with the objective of enhancing their lending operations and enabling them to raise more money from the market.

Under Indradhanush roadmap announced last year, the government will infuse Rs 70,000 crore in state banks over four years while they will have to raise further Rs 1.1 lakh crore from the markets to meet their capital requirements in line with global risk norms Basel-III.

PSBs are to get Rs 25,000 crore in each fiscal, 2015-16 and 2016-17. Besides, Rs 10,000 crore each would be infused in 2017-18 and 2018-19.

In the Budget 2017-18 speech on February 1, Finance Minister Arun Jaitley announced capital infusion of Rs 10,000 crore for the next fiscal beginning April 1.


Other Latest News
Aruna Reddy creates history to win bronze at Gymnastics World Cup
Posted on 24th February 2018
NEW DELHI: Aruna Budda Reddy became the first Indian gymnast to clinch an individual medal at the Gymnastics World Cup in Melbourne by securing bronze in the women's vault. Reddy, 22, scored 13.649 to finish behind gold medallist Tjasa Kysslef of Slovania and Emily Whitehead of Australia who took silver. The other Indian woman in contention, Pranati Nayak finished sixth with a score of 13.416.

Rupee closes higher against US dollar on Asian cues
Posted on 24th February 2018
Mumbai: The Indian rupee strengthened against the US dollar on Friday, tracking gains in local equity markets.

The home currency ended at 64.73, up 0.50% from its previous close of 65.05. The local currency opened at 64.96 a dollar and touched a high and a low of 64.69 and 64.97, respectively.


Kohli to be honoured with ICC Test Championship Mace after Newlands T20
Posted on 24th February 2018
The International Cricket Council (ICC) will present the ICC Test Championship Mace to India captain Virat Kohli at the Newlands Stadium in Cape Town after the end of the third and final T20 International against South Africa on Saturday.

On behalf of the ICC, ICC Cricket Hall of Famers Sunil Gavaskar and Graeme Pollock of South Africa will make the presentation immediately after the awards ceremony for the T20I series.


GST e-way bill should be mandatory from April 1, suggests Sushil Modi
Posted on 24th February 2018
The GST provision requiring transporters to carry an electronic way bill or e-way bill when moving goods between states should be implemented from April 1, a group of state finance ministers recommended on Saturday.

GoM head and Bihar Deputy Chief Minister Sushil Kumar Modi said the requirement for intra-state movement of goods of more than Rs 50,000 value would be introduced in phases after assessing the response for inter-state movement.


47% Indians care more about smartphones than their loved ones: Study
Posted on 24th February 2018
Nearly 33 per cent of people, specially the younger generation that has grown up in a digital world, care more for their smartphones over engaging with individuals they love and India tops the list with 47 per cent, a report said on Saturday.

The study by telecommunications company Motorola, which is developed in partnership with Nancy Etcoff -- expert in 'Mind-Brain Behaviour and the Science of Happiness', from Harvard University, said: "We, as a generation, are losing control of our lives."


» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for Government approves second tranche of capital infusion in PSU banks
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Name*
Comments*
Security Code*
 

Be the first person to write a business review for Government approves second tranche of capital infusion in PSU banks

Most Read News

Idea Rs 149 recharge plan now offers 28GB data, unlimited calls

Combined m-cap of listed PSBs slips below that of HDFC Bank

Siemens’ sale of mobility division raises questions for minority shareholders

Sensex nears 34,000; Nifty regains 10,400-mark as markets open positive

Nasa's new spacesuit comes with in-built toilet reminiscent of 1970's

More India News

  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
Home
About us
Link to us
Advertise
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2018 IndiaCatalog.com
    All Rights Reserved
Privacy Statement