India Business Journal - PSBs to raise Rs 25,000 cr in three months

MONEY

PSBs to raise Rs 25,000 cr in three months

IBJ Bureau
Dec 29, 2020

Public sector banks (PSBs) are planning to raise about Rs 25,000 crore through a mix of equity and debt in the next three months to support credit pick-up and meet regulatory requirements. In the last few months, State Bank of India, Canara Bank and Punjab National Bank have raised about Rs 40,000 crore from the market. RBI Governor Shaktikanta Das has been advising banks to raise capital proactively and not wait for a difficult situation to arise due to the ongoing COVID-19 crisis. The government has already allocated Rs 20,000 crore for capital infusion into PSBs in the current financial year.