Home > Business > Cabinet To Consider Holding Company For PSU Banks

Cabinet To Consider Holding Company For PSU Banks

Thursday, January 17, 2013
By A Business Reporter

The government is likely to consider within a few weeks a proposal for setting up a holding company for public sector banks to enable them to raise capital from the market instead of seeking funds from the exchequer.

“We are moving to Cabinet for setting up a holding company for the public sector banks,” said an official source. It will take 2-3 weeks. There will be one holding company for all public sector banks, sources said.

They said the Law Ministry’s opinion has been sought for making legislative changes as various acts will have to be synchronised and amendments will be required in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and 1980.

As per the structure proposed, 99 % of government holding in the bank will be shifted to the Holding Company and the government will retain 1 % with itself so that it remains a state-owned bank, sources said.

The Budget 2012-13 had proposed the setting up of a financial holding company that would help raise resources to meet capital needs of state-owned banks.

Facebook   Delicious   Delicious   submit to reddit reddit
No Comments Posted
  • Local Search
  • Classifieds
  • Go Shopping!
power by getit
power by Freeads
power by getit
City news
Saying spicy food is responsible for health probl
ATS reward offer triggers rapid response from ...
IMA survey reveals lack of ‘kitchen hygiene’ in ...
My wife and I have been having a very disturbing
Dr. Rajan B. Bhonsle, M.D. (Bom)
Consulting Sex Therapist & Counsellor
Dr. (Mrs.) Minnu R. Bhonsle, Ph.D.
Consulting Psychotherapist & Counsellor
Select Sun sign:
Aries (Mar 21 - Apr 20)
Aries (Mar 21 - Apr 20)Appointments and schedules tend to get upset. There is a lot to do but not enough time. Your work may need more personal involvement and you are not able to devote much time. You better plan your work strategy well in advance and then follow it sincerely else matters will get out of control. A delicate situation can arise whereby your romantic association may not find favor with family. You will have to make a choice.
Tarot for Love
Select Sun sign:
Aries (Mar 21 - Apr 20)
Aries (Mar 21 - Apr 20)What the cards say: Do not expect too much this week Path: Tolerance to improve things. Don’t be irritatble Ally: Earth sign Taurus will give you sound advice. Please stay away from Sagittarius who could propel you in the wrong direction Card of the week: Tarot key no. XVI The Tower. It indicates that false ego will need to give way for an inner growth and right understanding
- Advertising -
Living in a democracy gives us the right to accou
Want to study science in FYJC
Read More