BrahMos WORLD INDIA MADHYA PRADESH BHOPAL WTN SPECIAL Astrology GOSSIP CORNER SPORTS BUSINESS FUN FACTS ENTERTAINMENT LIFESTYLE TRAVEL ART & LITERATURE SCIENCE & TECHNOLOGY HEALTH EDUCATION DIASPORA OPINION & INTERVIEW RECIPES DRINKS FUNNY VIDEOS VIRAL ON WEB PICTURE STORIES
WTN HINDI ABOUT US PRIVACY POLICY SITEMAP CONTACT US
logo
Breaking News

Centre to infuse Rs 70k cr upfront into PSBs

Friday - August 23, 2019 8:24 pm , Category : BUSINESS
New Delhi, Aug 23 (IANS) The Central government will "upfront" infuse Rs 70,000 crore into public sector banks for extending additional lending.
At present, the economy has been impacted by a consumption slowdown which is a culmination of several factors such as high GST rates, farm distress, stagnant wages and liquidity constraints.
Besides, the stress in the NBFCs has led to a liquidity squeeze in the automobile and other type of capital goods purchases.
Finance Minister Nirmala Sitharaman said that the budgeted Rs 70,000 crore re-capitalisation of PSBs will be infused upfront so as to enable additional funding. This step is expected to allow PSBs to extend additional funding of Rs 5 lakh crore.
She further announced that PSBs have decided to launch repo-rate linked products.
PSBs have been mandated to return loan documents to customers within 15 days of their loan closure.

--IANS rrb-rv/prs