Govt has not had to recapitalise PSBs since FY22. These banks, now highly profitable, are now increasingly meeting their capital requirements from their own resources.
Finance Minister Sitharaman further said there should be a simple approach between public sector banks so that exporters are not be made to run between banks to scout for better offer.
The decision has been taken given as using technological innovations for planning, scheduling & forecasting is known to be economical, efficient and effective, an official memo said.
ICRA estimates that PSBs need around Rs 60,000 crore in the current fiscal, but these banks are struggling to raise capital despite asset quality challenges.
The standard advantage of a bad bank is the entity taking a decision on sale price is different from the entity accepting that price, former RBI governor D Subbarao said.
Cooperation Ministry takes a step towards financial inclusion with Sahkar DigiPay and Sahkar DigiLoan. They will enable faster and seamless access to financial services in small towns.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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