Several public sector banks including State Bank of India are yet to raise funds totalling over Rs 22,257 crore from markets, for which they were granted permission by the government way back in December 2014, Finance Ministry said in reply to a Parliament question on Friday. The Ministry did not mention the cut-off date.
Among the larger banks, SBI was granted permission in 2014 to raise Rs 15,000 crore from the markets. The other lenders sitting on the permission include IDBI Bank, United Bank of India, Oriental Bank of Commerce, Union Bank of India and Vijaya Bank.
IDBI Bank was to raise an amount of Rs 3,771 crore, while the amount for Union Bank is Rs 1,386 crore. For Oriental Bank of Commerce, the figure stands at Rs 1,000 crore, for Vijaya Bank it is Rs 600 crore and United Bank is yet to raise Rs 500 crore.
PSBs yet to raise funds from market
By IndianMandarins - 2016-05-02 11:04:13
Several public sector banks including State Bank of India are yet to raise funds totalling over Rs 22,257 crore from markets, for which they were granted permission by the government way back in December 2014, Finance Ministry said in reply to a Parliament question on Friday. The Ministry did not mention the cut-off date.
Among the larger banks, SBI was granted permission in 2014 to raise Rs 15,000 crore from the markets. The other lenders sitting on the permission include IDBI Bank, United Bank of India, Oriental Bank of Commerce, Union Bank of India and Vijaya Bank.
IDBI Bank was to raise an amount of Rs 3,771 crore, while the amount for Union Bank is Rs 1,386 crore. For Oriental Bank of Commerce, the figure stands at Rs 1,000 crore, for Vijaya Bank it is Rs 600 crore and United Bank is yet to raise Rs 500 crore.
