Govt to infuse Rs 48,239 cr in 12 PSU banks, PNB to get Rs 5,908 crore
New Delhi: The Finance Ministry on Wednesday announced to pump in Rs 48,239 crore in 12 public sector banks (PSBs) in this fiscal to help them maintain regulatory capital requirements and finance growth plans.
With this funding, the total amount of capital infusion would increase to Rs 1,00,958 crore of the planned recapitalisation of Rs 1.06 lakh crore for PSBs for the current fiscal, according to Financial Services Secretary Rajiv Kumar.
The remaining Rs 5,000 crore capital infusion would be used as buffer for any contingency or growth capital for Bank of Baroda which is in the process of merging Dena Bank and Vijaya Bank with itself.
"It (pending Rs 5000 crore) may be used for any contingency or for growth capital wherever it is necessary including amalgamated entity of Bank of Baroda," Kumar said.
Corporation Bank is the biggest beneficiary of this round of capital infusion with Rs 9,086 crore of funding, followed by Allahabad Bank with Rs 6,896 crore.
Explaining the rationale for giving higher capital to these two banks, Kumar said equipping these two better performing banks, currently under the Prompt Corrective Action (PCA) supervision of the RBI, would help meet requisite capital thresholds of 7.375 CET-1 ratio, 8.875 per cent Tier I ratio, 10.875 per cent of capital-to-risk weighted assets ratio (CRAR) and the net NPA ratio threshold of below 6 per cent.
Further, Rs 4,638 crore and Rs 205 crore will be provided to Bank of India and Bank of Maharashtra. These banks have recently come out of the regulatory supervisory framework PCA of the RBI.
Kumar further said Punjab National Bank will get Rs 5,908 crore, Union Bank of India Rs 4,112 crore, Andhra Bank Rs 3,256 crore and Syndicate Bank Rs 1,603 crore.
The government will pump in Rs 12,535 crore in four other banks under PCA -- Central Bank of India, United Bank, UCO Bank and Indian Overseas Bank.
The government in December had increased the outlay by Rs 41,000 crore for infusion in public sector banks. As a result, the total recapitalisation in the current fiscal from Rs 65,000 crore to Rs 1.06 lakh crore.
Subsequently, the government infused Rs 28,615 crore into seven public sector banks (PSBs) through recapitalisation bonds.
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Udupi: Two men from Belthangady awarded life imprisonment for attempt to murder a woman in 2022
Udupi: Two men from Belthangady have been sentenced to life imprisonment by a court in Udupi for attempting to murder a woman in Manchikumeri in 2022.
The sentenced men, Mithun and Nagesh Poojary, are learned to have attempted to murder Sumathi, wife of Ramanath Rai, a resident of Manchikumeri, who had a Nandini Milk Parlour at Tiger Circle, Manipal.
On February 18, 2022, Sumathi was reportedly alone at home when, at around 7 pm, Mithun, learned to be her nephew, and his friend Poojary came to the house. As Sumathi opened the door, the duo barged in and tried to strangulate her with an intention of murdering her. Sumathi reportedly lost consciousness under the attack.
The men packed her body in a sack and were then putting the sack into a suitcase to carry the body out, when they noticed that Rai and neighbours had arrived. They are learned to have opened the door when Rai knocked the door and then tried to escape. They were, however, caught by the neighbours and handed over to the police.
Further, Sumathi was found by the group in an unconscious state inside the suitcase in the house. She was rushed to the Manipal Hospital and learned to have recovered after a week of medical treatment.
A case had been registered at the Manipal Police Station.
The Udupi Principal District and Sessions Court judge Kiran S Gangannavar, who heard the case, has declared both Mithun and Poojary guilty in the case. He has awarded them life imprisonment, fined them Rs 20,000 each and, under Column 325, sentenced them to rigorous imprisonment of 5 years and fined them Rs 5,000 each.
Judge Gangannavar has directed that, of the fine, Rs 45,000 be handed to the attack victim Sumathi as relief.
Jayarama Shetty represented the government as Public Prosecutor.
