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Monday, March 14, 2016

Revised plan for bank capitalisation on cards

Following the completion of asset quality review of state-owned banks by the Reserve Bank of India (RBI), the government is reviewing the extent of capital these banks will need going forward. After finalising on these numbers, it will announce them in the coming months.

“Post asset quality review (AQR) exercise by the RBI to clean the balance sheets of PSBs (public sector banks), the numbers are being relooked at and a revised programme of capitalisation will be issued as part of ‘Indradhanush 2.0’, an official said. The second version of Indradhanush would carry forward the agenda of the first that was announced in August last year. The first edition had significantly scaled up the government capital for banks to Rs 70,000 crore over the next four years.

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