Government of India (GoI) announced recapitalisation of Public Sector Banks (PSBs) to the tune of Rs. 2.11 lakh crore in October 2017, through infusion of capital by the Government and raising of capital by banks from the markets. Rs. 88,139 crore was infused by the Government in PSBs during financial year (FY) 2017-18 after the recapitalisation announcement and provision of Rs. 65,000 crore has been made in the budget for the current financial year for infusion. Since the recapitalisation announcement till November 2018, PSBs have been recapitalised to the tune of Rs. 1,28,861 crore through infusion and mobilisation of capital from the market. Bank-wise details of capital infusion by the Government in FY 2017-18 and current FY 2018-19, up to 30.11.2018), are in the Annexure.
The benefits that have accrued to customers, include, inter alia, the following:
India’s global-rank for “getting credit” as per World Bank’s Ease of Doing Business Index has improved from 44 in 2016 to 22 in 2018.
Annexure
Capital Infusion by Government
|
|
|
Amounts in crore Rupee |
|
|
|
2018-19 |
S. No |
Bank |
2017-18 |
(up to 30.11.2018) |
1 |
Allahabad Bank |
1,500 |
4,844 |
2 |
Andhra Bank |
1,890 |
2,019 |
3 |
Bank of Baroda |
5,375 |
- |
4 |
Bank of India |
9,232 |
- |
5 |
Bank of Maharashtra |
3,173 |
- |
6 |
Canara Bank |
4,865 |
- |
7 |
Central Bank of India |
5,158 |
2,354 |
8 |
Corporation Bank |
2,187 |
2,555 |
9 |
Dena Bank |
3,045 |
- |
10 |
IDBI Bank Limited |
12,471 |
- |
11 |
Indian Bank |
- |
- |
12 |
Indian Overseas Bank |
4,694 |
2,157 |
13 |
Oriental Bank of Commerce |
3,571 |
- |
14 |
Punjab National Bank |
5,473 |
8,247 |
15 |
Punjab and Sind Bank |
785 |
- |
16 |
Syndicate Bank |
2,839 |
728 |
17 |
UCO Bank |
6,507 |
- |
18 |
Union Bank of India |
4,524 |
- |
19 |
United Bank of India |
2,634 |
- |
20 |
Vijaya Bank |
1,277 |
- |
21 |
State Bank of India |
8,800 |
- |
Source: PSBs
This was stated by Shri Shiv Pratap Shukla, Minister of State for Finance in a written reply to a question in Lok Sabha today.
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DSM/RM/KA