The Finance Ministry has finalised plan for the first round of capital infusion for public sector banks and funds would be granted to some of the lenders within next few weeks.
After the fourth quarter results, each bank made a detailed request taking into account issues pertaining to non- performing assets (NPAs) or bad loans, growth projections and the like, following which the Department of Financial Services has finalised the first tranches, sources said.
Without giving the exact amount, sources said, the first tranches which would be announced in the next few weeks may be between Rs 8,000 crore and Rs 10,000 crore.
The government has already made Budget provision of Rs 25,000 crore capital infusion for public sector banks for the current fiscal. At the same time, Finance Minister Arun Jaitley has assured that the government will provide more funds it needed.
Last year, the government announced a revamp plan 'Indradhanush' to infuse Rs 70,000 crore in state-owned banks over four years, while they will have to raise a further Rs 1.1 lakh crore from the markets to meet their capital requirements in line with global risk norms Basel-III.
In line with the blueprint, PSU banks will get Rs 25,000 crore this fiscal. Besides, Rs 10,000 crore each would be infused in 2017-18 and 2018-19.
During the last fiscal, 21 public sectors banks got fund support of Rs 25,000 crore. Of this, SBI got the highest amount of Rs 5,393 crore followed by Bank of India at Rs 2,455 crore.
Besides, the government infused Rs 2,229 crore in IDBI Bank, Indian Overseas Bank Rs 2,009 crore and Punjab National Bank Rs 1,732 crore.
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Further, Department of Expenditure has been selected for issue of Certificate of Recognition from the Department of Administrative Reforms and Public Grievances for performance on CPGRAMS.
The Department also organised workshop on use of mobile banking and e-banking for officials of the Finance Ministry in which representatives of SBI, PNB and RBI gave presentations.
It has started the implementation of e-Office, a mission mode project in a phased manner and is being implemented in the attached/subordinate offices as well.
On the recommendations of the Public Accounts Committee (PAC), Audit Para Monitoring System (APMS) has been implemented for computerised monitoring of the pendency of Action Taken Notes (ATNs) of CAG paras at various stages.
"The application facilitates the submission/vetting of ATNs by their uploading on the portal at every stage. As a result of regular training to the officials, now all ministries and departments are on board the APMS portal," it said.
The Department successfully implemented Seventh Central Pay Commission (CPC) as approved by the government. The arrears on account of implementation of 7th CPC recommendation were also paid in 2016-17.
With regard to pension payment, it said Life Certificate format for pensioners has been modified and provision for acknowledgement by the bank has been introduced.
Further, the bank has to mention submission of Life Certificate by the pensioner in the payment scrolls to CPAO to enable monitoring of the same, it said.
This year, to avoid the hardship to pensioners in interacting with bank branches due to demonetisation, the last date of submission of Life Certificate has been extended to January 15, it added.
