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finance | IST

PSBs may raise Rs 20,000 crore more this fiscal year from market

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Public sector banks (PSBs) may raise Rs 20,000 crore more this financial year from markets, sources informed CNBC-TV18.

Public sector banks (PSBs) may raise Rs 20,000 crore more this fiscal year from markets, sources informed CNBC-TV18.
PSBs have raised Rs 40,000 crore so far from the markets in the current financial year. They have been raising funds via equity offering, AT1, Tier 2 bonds, sources said.
"No call has yet been taken on allocation/distribution of Rs 20,000 crore PSB recapitalization. However, PSB recap plan will be reviewed after Q3 results and more will be provided if need be," sources further said.
On IDBI Bank stake sale, sources say that work is in progress.
"LIC is also a stakeholder," it said.
On fund raising by PNB, sources said it is likely to happen next week.
On DFI, sources said that the proposal to set it up may need a statutory status.
"Government is open to subsuming/ amalgamating financial institutions into setting up a DFI. DFI will be the market maker for long term infra financing including the NIP and will attract funds from sovereign wealth funds, pension funds," it added.