Capital of Public Sector Banks to be raised through Sale of Shares
The capital of banks will be raised by increasing the shareholding
of the people in a phased manner through sale of shares largely through retail
to common citizens of the country. Announcing this in his maiden Budget Speech
in Lok Sabha, the Finance Minister Shri Arun Jaitley said that there is a
requirement to infuse Rs. 2, 40,000 crores as equity by 2018 in the Public
Sector Banks. To meet this huge capital requirement, additional resources have
to be raised. By selling the shares through retail, the citizens will get
direct shareholdings in these banks even as the Government will continue to
have majority shareholding. Shri Jaitley said that Government will also examine
the proposal to give autonomy to the banks while making them accountable.
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