Govt to infuse Rs 14,000 cr in public sector banks during FY 2013-14

The government today said it will infuse Rs 14,000 crore in public sector banks next fiscal to ensure that they meet the global capital adequacy norms.

"Before end of March 2013, we should provide Rs 12,517 crore to the to infuse additional capital into 13 public sector banks. In 2013-14, I propose to provide a further amount of Rs 14,000 crore for capital infusion," Finance Minister P Chidambaram said in his Budget speech.

"We should ensure that public sector banks always meet Basel III regulations as they come into force in phase manner," he said while presenting the Union Budget 2013-14 in Parliament.

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