The Modi government may provide capital to public sector banks in the third quarter

The Ministry of Finance may provide capital assistance to public sector banks in the third quarter of the current financial year. The recently concluded session of Parliament has approved a fund of Rs 20,000 crore for public sector banks. Parliament has approved Rs 20,000 crore for public sector banks under the first batch of supplementary demand for grants for 2020-21.

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Sources said capital could be provided to banks in the October-December quarter to meet regulatory capital requirements if needed. According to sources, the results of the second quarter of the banks will give an idea of ​​which banks will need regulatory capital and will be re-issued accordingly.

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Also, public sector banks have already received approval from shareholders to raise capital through equity and bonds in the current financial year. It is noteworthy that the government has not made any commitment to allocate capital to public sector banks in the 2020-21 budget. The government expected banks to raise capital from the market according to their needs. 201Y-201. In the financial year, the government invested Rs 1,000,000 crore in public sector banks.

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In the last financial year, Punjab National Bank received an investment of Rs 1,16,09 crore from the government. Union Bank of India received Rs 11,76868 crore, Canara Bank received Rs 57,111 crore and Indian Bank received Rs 2,54 crore. Crores of rupees. Similarly, Allahabad Bank received Rs 2,153 crore, United Bank of India Rs 1,166 crore and Andhra Bank Rs 200 crore. These three banks have now merged with other banks.

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