Most PSU banks need more capital: PC

Last Updated: Thu, Nov 15, 2012 14:01 hrs

Union Finance Minister P Chidambaram on Thursday said the government will take a decision in the upcoming weeks on how much fresh capital will be infused into state-run banks in the upcoming weeks.

"Most banks would require additional capital. We have budgetary provision for infusing additional capital and decision would be taken in the next few weeks about infusing additional capital into banks," Chidambaram said while addressing a press conference after meeting heads of public sector banks and financial institutions here.

The Finance Minister said a budget provision of Rs 15,000 crore for the current fiscal has been made by the government in connection to the issue.

He said Indian Overseas Bank, Central Bank of India and the Bank of Maharashtra are the top three Public Sector Unit (PSU) banks that require capital.

He said 63,200 people will be hired by PSU banks in the current financial year.

"There is huge job opportunities for young men and women in banks. As many as 63,200 persons will be recruited by PSU banks in the current fiscal," he said.

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