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Published on 27/09/2018 11:15:54 AM | Source: Dion Global Solutions Ltd

Government starts discussions with PSBs for capital infusion: Rajiv Kumar

Financial Services Secretary Rajiv Kumar has said that the government has initiated discussions with public sector banks (PSBs) for second round of capital infusion. All the banks have asked for recapitalisation programme to be advanced, Financial Services Secretary Rajiv Kumar said. As per reports, Finance Minister Arun Jaitley had committed capital support to banks after meeting heads of public sector lenders.

Some of them did mention that the PCA (prompt corrective action) guidelines should be revisited because that is indirectly impacting their lending ability and that government should be more upfront in the capital requirement of some of these banks,” FM said.

I have assured them that we will immediately look at this subject because we are as keen as them, as every Indian is, that this opportunity is not missed because we want the cycle of high consumption, high growth, NPA recoveries, credit offtake really to be utilised to the fullest in order to help economy," Jaitley had said.