PSU banks may get additional capital infusion of Rs 7,000 crore

To further enhance capital base, the government is planning to make additional infusion of up to Rs 7,000 crore in the public sector banks during the current fiscal."In the interim budget, the government provided Rs 11,200 crore for the public sector banks. There could be additional provision of Rs 7,000 crore for these banks when government tables regular budget for 2014-15 in June-July," a senior Finance Ministry official said.The Department of Financial Services would request for additional funds in regular budget as banks require more capital...

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Allahabad Bank registers 7 pc growth last fiscal

State-owned Allahabad Bank has registered a growth of 7 per cent in the last financial year."In the fiscal 2013-14, the bank's business stood at Rs 3.31 lakh crore, with deposits at Rs 1.90 lakh crore and advances at Rs 1.41 lakh crore," bank's chairman and managing director Rakesh Sethi told reporters here today.He said that in the absence of takers of any corporate credit, the bank was now focusing on farm credit, retail and the MSME sector.The newly-appointed CMD said that the bank would target arresting of slippages as well as maintaining...

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