Public Sector Banks Capital Infusion: Big news is coming out regarding the Public Sector Banks of the country. It is being claimed in the media reports that the financial health of the country’s public sector banks has become better than before. Due to this, in the Union Budget 2023, which will be presented in the Parliament on 1 February 2023, there is no possibility of announcement of new capital infusion in banks by the Central Government. Know what is the new update…
Improvement in the financial condition of banks
According to media reports, the capital adequacy ratio of the country’s public sector banks is more than the regulatory requirement. Presently it is running between 14 percent to 20 percent. These banks are busy in increasing their resources. Along with this, huge funds are being added from the market in the name of investment, due to which the financial condition of these banks is much better than before. Apart from this, they are also adopting the method of selling their non-core assets.
Government invested so much capital in 5 years
Last time in the financial year 2021-22, the central government had infused a lot of capital in these public sector banks. 20,000 crore was fixed for bank recapitalization. It may be known that, during the last 5 financial years i.e. 2016-17 to 2020-21, capital of Rs 3,10,997 crore has been infused by the government in public sector banks. Of this, Rs 34,997 crore was arranged through budget allocation, while Rs 2.76 lakh crore was raised by issuing recapitalization bonds to these banks.
Profit of banks increased by 50 percent
All 12 public sector banks have seen a profit of up to 50 per cent. According to reports, all these banks have earned a total profit of Rs 15,306 crore in the first quarter of the current financial year (FY2022-23). Whereas in the second quarter this amount has increased to Rs 25,685 crore. If compared to 1 year ago, the profit of these banks has increased by 9 percent in the first quarter and 50 percent in the second quarter.
Banks got this much profit in 6 months
The country’s largest bank State Bank of India has earned the highest ever profit of Rs 13,265 crore in the second quarter. Which has been 74 percent more than the same quarter last year. On the other hand, the profit of public sector banks increased by 32 percent to Rs 40,991 crore in the first half of the current financial year. In the financial year 2021-22, the total profit of these banks has more than doubled to Rs 66,539 crore.
The budget will be presented on February 1
Finance Minister Nirmala Sitharaman will present the general budget for the financial year 2023-24 on 1 February 2023 in the Parliament of the country. This will be the last full budget of the current tenure of the Modi government. It is known that next year in 2024 general elections are going to be held.
The inputs in this news have been taken from the language.
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