BANK NEWS
Sebi may help in govt recapitalisation plans for PSU banks
NEW DELHI: To help push government's recapitalisation drive for PSUs, regulator Sebi may grant a waiver to state-run entities in case public shareholding falls below 25 per cent and exempt them from open offer if they raise holding by more than 5 per cent in one financial year.
The central government plans to allocate Rs 70,000 crore spread over four years towards recapitalisation of PSU banks to contain risks in the banking industry.
It has already infused Rs 22,915 crore capital in 13 lenders, including SBI and Indian Overseas BankBSE -1.96 %, to revive loan growth that has hit a two-decade low and help them shore up their capital base. Economic times
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