TaxTMI 
TaxTMI 
Capital Infusion of PSBs by Government
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....apital Infusion of PSBs by Government <br>News and Press Release<br>Dated:- 19-12-2018<br><BR>Government of India (GoI) announced recapitalisation of Public Sector Banks (PSBs) to the tune of ₹ 2.11 lakh crore in October 2017, through infusion of capital by the Government and raising of capital by banks from the markets. ₹ 88,139 crore was infused by the Government in PSBs during finan....
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....cial year (FY) 2017-18 after the recapitalisation announcement and provision of ₹ 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 ₹ 1,28,861crore through infusion and mobilisation of capital from the market. Bank-wise details of capital infusion ....
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....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:- increasing access to banking services from home and mobile through digital banking and enhanced customer ease, unprecedented financial inclusion, Jan Dhan programme by the Government has enabled opening of bank acco....
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....unts for millions of previously unbanked customers (about 33.46 crore such accounts have been set up as of 5.12.2018, with balance of about ₹ 84,800 crore) and allowing users to receive government subsidies (as DBT) and to access remittances, credit, insurance, and essentially being included financially, increased availability of loans upto ₹ 10 lakh to the non-corporate, non-farm sm....
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....all/micro enterprises under Pradhan Mantri MUDRA Yojana (PMMY), wherein a borrower can approach any of the lending institutions or can apply online through portal. (during FY 2017-18, 4.81 crore loans were sanctioned and in the current financial year, as on 7.12.2018, 2.81 crore loans MUDRA loans have been sanctioned, increasing lending to MSMEs through time-bound automated processing and transp....
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....arent status-tracking, with financially and technologically strengthened banks leveraging digitalised bank statements and income-tax and GST returns and according in-principle loan sanction within 59 minutes, and meet the production credit requirements of the farmers in a timely and hassle-free manner by introducing RupayKisan Credit Card. India's global-rank for "getting creit" as per World Ba....
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....nk'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 S. No Bank 2017-18 2018-19 (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 Ind....
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....ia 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 I....
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....ndia 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 Rajya Sabha.<BR> News - Press release - PIB....