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No proposal for elevating FII limit in PSBs to 49 per cent: Anurag Thakur


India

No proposal for elevating FII limit in PSBs to 49 per cent: Anurag Thakur

NEW DELHI: There isn’t this kind of thing as a proposal for elevating International Institutional Funding (FII) ceiling in public sector banks to 49 per cent from 20 per cent for capital mobilisation, Minister of Tell for Finance Anurag Singh Thakur told the Lok Sabha on Monday. No quantity has been raised by the govt.within…

NEW DELHI: There isn’t this kind of thing as a proposal for elevating International Institutional Funding (FII) ceiling in public sector banks to 49 per cent from 20 per cent for capital mobilisation, Minister of Tell for Finance Anurag Singh
Thakur told the Lok Sabha on Monday.

No quantity has been raised by the govt.within the sizzling financial year for recapitalisation of public sector banks (PSBs) by issuance of recapitalisation bonds, he acknowledged in a written acknowledge.

“No proposal to amend this, is currently below consideration of the govt,” he acknowledged while replying to a ask of if the govt.is mulling over elevating FII in PSBs from 20 per cent to 49 per cent for capital mobilisation.

“As per the proviso to sub-allotment (2D) of allotment 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980, no particular individual or firm resident outdoors India shall again shares exceeding 20 per cent of a nationalised bank’s paid-up capital,” he acknowledged.

Replying to at least one other ask of, he acknowledged, the govt.and World Bank have confidence thus a long way signed handiest one mortgage of USD 750 million on Would possibly additionally 15, 2020 as budgetary again to the Authorities for accelerating India’s COVID-19 Social Protection Response Programme in define to again measures undertaken below Pradhan Mantri Garib Kalyan Yojana (PMGKY), the benefits of which have confidence flown to all States/UTs.

All beneficiaries coated below PMGKY are benefitted from this mortgage, he acknowledged, adding, as on date, the signed mortgage quantity (USD 750 million) has been fully disbursed below the programme.

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