About 10 public sector banks are expected to get over Rs 15,000 crore from the govt after Parliament`s Winter Session as part of the recapitalisation exercises, which would shore up their capital against risks to over 12 percent.
The government on Thursday slashed the
interest subsidy given to farmers on crop loans by one
percentage point to two per cent for this fiscal, a move that
is expected to bring down burden on the Central exchequer by
Rs 311 crore.
ONGC has opposed Finance Ministry directive of parking its surplus funds with only PSU banks saying it is losing Rs 360 crore of interest revenues annually as state-run banks offer lower interest rates.
The WB and India have
concluded negotiations for loans worth USD 3.2 bn for
recapitalising state-run banks and funding for the India
Infrastructure Finance Company Ltd, a state-run lender to