The market celebrated when the government approved the capital infusion plan for public-sector banks (PSBs) on October 24, 2017. Especially, the share prices of weak banks under the Reserve Bank of India’s (RBI’s) prompt corrective action (PCA) rose about 20 per cent after the announcement. Of the total Rs 2.1 trillion proposed, the government infused Rs 900 billion in PSBs in FY18.
And, more than 60 per cent was for PCA banks. However, with recent developments in the banking sector in the past few months, the government’s efforts seem to be insufficient. Not ...
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First Published: Tue, June 05 2018. 13:13 IST
