Re-capitalization programme for Public Sector Banks

BANKING

Govt approves Rs 12,200 cr 

re-capitalization programme for Public Sector Banks

Jan 10, 2013

The Union Cabinet has approved a 12,517 crore rupees re-capitalization programme for public sector banks. Briefing THE media, Finance Minister P Chidambaram said 9 or 10 public sector banks are to get the re-capitalization amount before the end of the current fiscal.

He said the Cabinet has approved enhancement of unit assistance under the Indira Awaas Yojana in view of the steep hike in cost of materials.

It has been raised to 70 thousand from the present 45,000rupees in plain areas and to 75,000 rupees from the existing 48,500 rupees in hilly and difficult areas.

Mr Chidambaram said the Cabinet also apaproved an amendment to the Stock Exchange Board of India (SEBI) to widen the eligibility creteria for the appointment of the presiding officer of Securities Appellate Tribunal (SAT). Cabinet has approved introduction of Bill for declaring Lakhipur Bhanga stretch of Barak river as a National waterway. He said the Cabinet has approved the revised cost estimate for Salma dam project in Afghanistan and transfer of schools from Central Tibetan Schools Administration to Department of Education, Central Tibetan Admin, Dharmshala.