The Reserve Bank of India (RBI) has sought an additional Rs 26,000 crore from the government to be injected into state-run banks by 2018 as the current capital pledges are inadequate due to inflated stressed assets.
- RBI has informed the government about the additional capital that will be needed by state-owned banks until 2018 as part of implementing Basel-III standards.
In this fiscal, government has spent Rs 20,000 crore on bank capitalisation and will infuse another Rs 5,000 crore before March. The government has pledged Rs 70,000 crore toward this end until FY19; Rs 25,000 crore of this in the next fiscal year.
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