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All 18 PSBs maintain minimum 9% CRAR: Thakur

Published: Jul 08, 2019

By TIOLCORPLAWS News Service

NEW DELHI, JULY 08, 2019: THE Union MoS for Finance & Corporate Affairs, Mr Anurag Singh Thakur, today in Parliament stated that as per RBI guidelines, banks in India are required to maintain a minimum Capital to Risk-weighted Assets Ratio (CRAR) of 9%. As on March 31, 2019, all 18 Public Sector Banks (PSBs) meet this minimum CRAR requirement. In this year's budget, Government has proposed to make provision for infusion of Rs 70,000 crore capital to PSBs to boost credit for a strong impetus to the economy. As per inputs received from State Bank of India, bank has obtained approval for raising equity capital of up to Rs 20,000 crore from the market by way of Qualified Institutional Placement (QIP) or other modes till March 31, 2020.

The bank has further informed that at present it is well capitalised, with CRAR of 12.72% as on March 31, 2019 against regulatory requirement of 11.325% and depending upon the requirement, it would decide on raising capital at an appropriate time during the financial year.

PSBs source capital through internal capital generation, mobilisation of capital from markets, and infusion by the Government. Thus, capital infusion by the Government complements PSB's internal capital generation and mobilisation of capital from markets. During the period from financial year (FY) 2008-09 to FY2018-19, PSBs have mobilised Rs 2,81,616 crore of capital through sources other than Government, and have posted net profit of Rs 98,373 crore, of which a sizeable proportion has contributed to internal capital generation. During the same period, Government has infused capital of Rs 3,15,721 crore in PSBs.

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