PIB News Update: In addition to capital infused earlier by the Government, provision of Rs 70,000 crore has been made for infusion of capital by the Government in banks in the Budget for the current Financial Year to boost credit for impetus to the economy. Rs 60,314 crore has been infused so far from this provision, equipping banks for growth. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Rajya Sabha today.
In accordance with instructions of the Reserve Bank of India (RBI), banks project their capital requirements to their respective Boards and as per RBI, such information is confidential.
The Minister further stated that banks’ projections take into account all sources of capital, including Government and other investors, capital receipts from sale of assets and internal accruals. Thus, in addition to the projected infusion of Rs 70,000 crore by the Government, banks have projections and plans for mobilising capital from other sources as well.