Rs15,888 crore provided for recapitalistion of public banks in Budget 2012-13

Rs15,888 crore provided for capitalisation of public sector banks/RRBs and other financial institutions

A provision of Rs15,888 crore has been kept in the union budget 2012-13 for capitalisation of public sector banks, regional rural banks (RRBs) and other financial institutions including NABARD.

Making the announcement during his budget speech in the Lok Sabha today, the union finance minister Pranab Mukherjee said that government was also considering the possibility of creating a financial holding company which will raise resources to meet the capital requirements of public sector banks.