No recap for PSBs in FY21: Finance Minister

Source :IANS
Author :IANS
Last Updated: Sat, Feb 1st, 2020, 14:46:27hrs
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No recap for PSBs in FY21:  Finance Minister

New Delhi:  Finance Minister Nirmala SItharaman on Saturday said the government has infused Rs 3.5 lakh crore in the PSU banks and now banks will go to market to raise funds on their own, ruling out any recapitalisation.

"Financial inclusion is the key. A clean, reliable and robust financial sector is critical for robust economy", she said.

"We have infused Rs 3.5 crore capital into PSU banks. A few among them will be encouraged to move capital market for fundraising purposes", she said in her Budget Speech.

In the previous Budget, the government had infused Rs 70,000 crore.

 

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