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AI Drafter ✕

Generate professional replies to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.

Step 1 – Issue Identification & Review

The AI analyses your query, notice, order, or uploaded documents and identifies the key issues involved.

• Review the issues identified by the AI
• Add, edit, remove, or refine issues as required


Step 2 – Draft Generation

Once you approve the issues, the AI performs issue-wise legal research and prepares a structured draft response.

• Relevant statutory provisions
• Judicial precedents and Supreme Court, High Court and other citations
• Issue-wise legal analysis
• Practical arguments and supporting content
• Professionally structured draft ready for further review.

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        News and Press Release

        Capital of Public Sector Banks to be Raised Through Sale of Shares

        July 10, 2014

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        The capital of banks will be raised by increasing the shareholding of the people in a phased manner through sale of shares largely through retail to common citizens of the country. Announcing this in his maiden Budget Speech in Lok Sabha today, the Finance Minister Shri Arun Jaitley said that there is a requirement to infuse ₹ 2,40,000 crores as equity by 2018 in the Public Sector Banks. To meet this huge capital requirement, additional resources have to be raised. By selling the shares through retail, the citizens will get direct shareholdings in these banks even as the Government will continue to have majority shareholding. Shri Jaitley said that Government will also examine the proposal to give autonomy to the banks while making them accountable.

        Capital raising through retail share sale expands public shareholding while government retains majority and examines bank autonomy. Capital mobilisation for public sector banks will be achieved through phased retail share sales to increase direct public equity participation while the government retains majority ownership; the plan links this capital infusion mechanism to consideration of greater bank autonomy subject to accountability measures.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Capital raising through retail share sale expands public shareholding while government retains majority and examines bank autonomy.

                                Capital mobilisation for public sector banks will be achieved through phased retail share sales to increase direct public equity participation while the government retains majority ownership; the plan links this capital infusion mechanism to consideration of greater bank autonomy subject to accountability measures.


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