All PSBs Requested to make presentations to the Department of Financial Services

Jayant Sinha
Jayant Sinha

In order to assess capital requirement of Public Sector Banks (PSBs), all PSBs have been requested to make presentations to the Department of Financial Services, Ministry of Finance.  Shri Jayant Sinha, Minister of State (Finance) and Secretary (Financial Services) would be present during these meetings.  The schedule of these Presentations is as follows:

Place of Meeting Name of Banks Date
Delhi UCO Bank, United Bank of India and Allahabad Bank 12.6.2015
Punjab National Bank, Punjab & Sindh Bank and Oriental Bank of Commerce. 18.6.2015
Mumbai State Bank of India, Union Bank of India, IDBI Bank and Central Bank of India 24.6.2015
Bank of India, Bank of Baroda, Dena Bank and Bank of Maharashtra 25.6.2015
Bengaluru Andhra Bank, Indian Overseas Bank, Corporation Bank, Canara Bank, Syndicate Bank and Vijaya Bank. 3.7.2015

Earlier during the Quarterly Review of Public Sector Banks’ performance held on 11th March, 2015 (11.3.2015), it was discussed that the banks should work-out/find-out their own resources for raising capital and also work-out their own plan for raising capital from market. Bank should have a base line board validated capital raising strategy. Capital would include the equity, non-equity and other instruments. Capital requirement may be for the existing business growth and some for meeting the new credit requirement. Banks should use capital in more productive manner. Banks may do the business which is permitted by their capital base. They can go into the niche Market. They can also explore the possibility of selling their non-core business.

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