Sun, 12 Jul 2020

New Delhi [India], Nov 19 (ANI): In addition to capital infused earlier by the Government, provision of Rs 70,000 crore has been made for infusion of capital by the Government in banks in the Budget for the current Financial Year to boost credit for impetus to the economy, the Finance Ministry told Rajya Sabha on Tuesday.

In a reply, Union Minister of State for Finance and Corporate Affairs Anurag Singh Thakur told Rajya Sabha that Rs 60,314 crore has been "infused so far from this provision, equipping banks for growth".

"In accordance with instructions of the Reserve Bank of India (RBI), banks project their capital requirements to their respective Boards and as per RBI, such information is confidential," a PIB release said.

It further quoted Thakur to state that banks' projections take into account all sources of capital, including government and other investors, capital receipts from sale of assets and internal accruals.

"Thus, in addition to the projected infusion of Rs 70,000 crore by the Government, banks have projections and plans for mobilising capital from other sources as well," it said. (ANI)

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