No job losses due to merger of public sector banks: Arun Jaitley
New Delhi, Jan 4 : Finance Minister Arun Jaitley on Friday said in Lok Sabha that there would be no loss of jobs due to merger of public sector banks.
Earlier this week, the Cabinet approved merger of Vijaya Bank and Dena Bank with Bank of Baroda.
Jaitley said that there would be no job losses due to merger of the banks and that the move would create a bigger entity like the State Bank of India (SBI).
The cost of lending could also become cheaper, he added.
During the Question Hour, the minister said that out of the 21 public sector banks, 11 are under PAC (Prompt Corrective Action) framework.
PAC is initiated against banks that have high levels of non-performing assets (NPAs).
Replying to a supplementary question, Jaitley said the curve of non-performing assets would go down and that the Insolvency and Bankruptcy Code has helped in bringing back around Rs 3 lakh crore into the system.
Jaitley said that the State Bank of India (SBI) and other public sector banks have been making operational profits. They incurred losses due to provisioning for non-performing assets, he added.
With regard to recapitalisation of Public Sector Banks (PSBs), the minister said that Rs 51,533 crore has been infused into them in the current financial year till December 31.
"In the budget estimates of FY 2018-19, Rs 65,000 crore has been allocated for recapitalisation of PSBs and an amount of Rs 51,533 crore has been infused in PSBs till December 31, 2018," he said.
The minister also said that in recent past, Rs 90,000 crore was allocated in the Union Budget and infused in various PSBs by the government during financial year 2017-18.
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Hit by car, delivery agent dies after falling from flyover in Delhi
New Delhi (PTI): A food delivery agent died after falling from the Dabri flyover in southwest Delhi when his scooter was allegedly hit by a car on Thursday morning, police said.
The car driver fled from the spot, police said.
A PCR call was received at 7:35 am informing that a person had fallen from the Dabri flyover on Pankha road and required immediate medical assistance, they said.
A police team rushed to the spot and found a damaged scooter and a car on the flyover. The scooter rider sustained serious injuries and was immediately shifted to a nearby hospital in an ambulance, where doctors declared him dead, they added.
According to police, the victim was identified as Rajkumar, a resident of Jharkhand's Godda district. He was working as a delivery executive with a private food delivery service in Delhi.
The car involved in the accident bears a Delhi registration number and is registered in the name of a Dabri resident, police said.
"The body has been preserved in a mortuary and efforts are underway to apprehend the absconding driver," a senior police officer said.
A case has been registered under relevant sections of the Bharatiya Nyaya Sanhita and an investigation is underway to ascertain the exact sequence of events leading to the accident, police said.
