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According to Mr T.M. Bhasin, Chairman and Managing Director, Indian Bank, the recapitalisation support to public sector banks of Rs 15,888 crore would help augment their lending capabilities.
“This (extending capital support to public sector banks) is a welcome measure as this will boost the capital adequacy ratio and will also help banks meet their credit growth targets,” Mr Bhasin said.
Indian Bank, would, however, not require capital support from the Government next fiscal as its Tier I capital was close to 11.29 per cent. The bank’s capital adequacy ratio stood at 13.5 per cent as on December 31, 2011.
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