"We should ensure that public sector banks always meet Basel III regulations as they come into force in phase manner," he said while presenting the Union Budget 2013-14 in Parliament.
Implementation of Basel III capital regulations envisage enhancing requirement of core equity capital by banks due to higher capital ratios. The Basel III capital ratios will be fully phased in as on March 31, 2018.
The Reserve Bank has extended the date for implementing Basel III by three months to April 1, 2013.
The government infused about Rs. 20,117 crore in public sector banks during 2010-11, and Rs. 12,000 crore in 2011-12.