Swipe through the latest business and wealth clues with our android app

PSU banks plan to raise over Rs 50k crore in FY19

Public sector banks are planning to raise more than Rs 50,000 crore this fiscal to shore up their capital base for business growth and meeting regulatory global risk norms. PSU banks as they are saddled with non-performing assets (NPAs) of about Rs 10 lakh crore. According to analysts, their first quarter results may not be very encouraging despite increasing provisioning last fiscal. Out of 21 public sector banks, 13 have already taken the approval from their boards or shareholders for raising capital through the equity market, as per the data compiled by PTI. Leading the pack is the Central Bank of India, which has already got shareholders’ approval for raising Rs 8,000 crore equity capital through various means, including a follow-on public offer (FPO), rights issue or a qualified institutional placement (QIP), to shore up its capital base.

Read More at The Hindu Business Line News date : 9 Jul 2018, Monday

©2019 TheNewsClues