Money & Banking

Bank recap to be dependent on performance, reforms, says Finance Ministry official

PTI New Delhi | Updated on January 24, 2018

Each PSU bank is an article of faith; regulatory capital of all banks will be maintained, says Financial Services Secretary Rajiv Kumar.

Kumar says bank recapitalisation dependent on performance and reforms; loans above Rs 250 crore will undergo special monitoring.

65 cr first generation bank accounts will not have any minimum balance penalty, says Kumar.

Recap plan: SBI to get Rs 8,800 crore; OBC Rs 3,571 crore; Dena Bank Rs 3,045 crore; Central Bank Rs 5,158 crore; IOB Rs 4,694crore; BoI Rs 9,232 crore; UCO Rs 6,507 crore.

Punjab & Sind Bank to get Rs 785 crore; IDBI Bank s 10,610 crore; Canara Bank-Rs 4,865 crore; Union Bank Rs 4,524 crore; Syndicate Bank Rs 2,839 crore; BoM Rs 3,173 crore.

Published on January 24, 2018

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