Government to strengthen Public Sector Banks with infustion of Rs.6000 crore

Underlining the need to strengthen Public Sector Banks (PSBs) the Finance Minister Shri Pranab Mukherjee proposed to provide Rs. 6000 crore to maintain tier 1 capital to risk weighted asset ratio. He also proposed to infuse Rs. 500 crore into Regional Rural Banks (RRB).

A Women's Self Help Groups Development Fund with a corpus of Rs. 500 crore is proposed to be created. He also proposed to create a micro finance equity fund of Rs. 100 crore with Small Industrial Development Bank of India (SIDBI) for providing equity to smaller micro finance institutions.

Rs. 3000 crore will be provided to NABARD to help handloom weaver cooperative societies to become financially viable.

Source : Equity Bulls

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