Submit plans for fund raising from market: Finmin

NEW DELHI: Having announced a capital infusion of ₹22,915 crore in public sector banks (PSBs), the finance ministry has asked them to submit plans for raising resources

NEW DELHI: Having announced a capital infusion of ₹22,915 crore in public sector banks (PSBs), the finance ministry has asked them to submit plans for raising resources through the market, including public offers and sale of non-core assets. “With the infusion, banks’ financial strength will get a boost. This can then be leveraged by banks to raise funds from the market, which is looking up,” sources said. Lenders were advised to submit fund-raising plans at a recent meeting of chief financial officers of PSBs with senior finance ministry officials.

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