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Recapitalisation bonds News
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These bonds will not have Statutory Liquidity Ratio (SLR) and have tenure of 10-15 years, Economic Affairs Secretary S C Garg told reporters here.
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The framework once cleared will go to Parliament for necessary approvals, another official said.
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The banks will also be getting nearly Rs 18,000 crore under the Indradhanush plan.
Moody's Investors Service on Wednesday said the government's plan to infuse Rs 2.11 lakh crore in PSU banks is "significant credit positive" as it will help address the problem of weak capitalisation.
Finance Minister Arun Jaitley yesterday announced that Rs 2.11 lakh crore would be infused in PSU banks over two years, of which Rs 1.35 lakh crore will be through recapitalisation bonds.
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Yesterday, Finance Minister Arun Jaitley unveiled an unprecedented Rs 2.11 lakh crore two-year road map to bolster NPA-hit public sector banks, which includes re-capitalisation bonds, budgetary support, and equity dilution.
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