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Sunday, March 19, 2017

Govt infuse rs 8586 cr capital to 10 eeak banks

Centre to infuse Rs 8,586 crore capital in 10 weak banks

Allahabad Bank (Rs 418 cr), Andhra BankBSE -1.07 % (Rs 1,100 cr), Bank of India (Rs 1,500 cr), Bank of MaharashtraBSE 0.46 % (Rs 300 cr), Central Bank of IndiaBSE -1.16 % (Rs 100 cr), Dena Bank (Rs 600 cr), IDBI BankBSE -1.11 % (Rs 1,900 cr), Indian Overseas Bank (Rs 1,100 cr), UCO Bank (Rs 1,150 cr), and United Bank of India (Rs 418 cr). 

central government has listed out five parameters under which the milestones would be fixed. 

These are: (a) active management of non-performing assets (NPA), strengthening of lending and monitoring processes; (b) arranging capital from the market; (c) plan for disposal of non-core assets; (d) divesting stakes in subsidiaries, closure of loss-making domestic and international branches; (e) reduction in operational expenses including employee benefits to would be reversed once the banks turns around.

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