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.
On Monday, Modi delivered an aggressive speech, which TV news pounced upon with relish, sensing a good fight ahead—‘PM tears into Opposition’, ‘belt treatment', 'big attack'.
December oil imports from Russia may drop nearly 50%, but Indian buyers already shifting to non-designated Russian entities and opaque trading channels to keep Russian oil flowing.
The helicopters produced by Lockheed Martin are known as ‘submarine hunters’. India ordered 24 of these aircraft in 2020 to replace the Sea King helicopters. 15 have been delivered till date.
The India-South Africa series-defining fact is the catastrophic decline of Indian red ball cricket where a visiting team can mock us with the 'grovel' word.
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