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PSU banks in focus after Govt unveils details of re-capitalisation

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Capital Market

Shares of public sector banks (PSBs) will be in focus as the Government of India (GoI) after market hours yesterday, 24 January 2018, unveiled details of the re-capitalisation of PSBs announced in October 2017. The capital infusion plan for 2017-18 includes Rs 80000 crore through recap bonds and Rs 8139 crore as budgetary support. This plan addresses regulatory capital requirement of all PSBs and provides a significant amount towards growth capital for increasing lending to the economy.

The recap would be accompanied by a strong reforms package across six themes incorporating 30 action points. Capital infusion by the GoI is contingent on performance of PSBs on the reform. Whole time directors of PSBs would be assigned theme-wise reforms for implementation. Their performance in this regard would be evaluated by the bank board.

 

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First Published: Jan 25 2018 | 7:52 AM IST

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