Rs50,000 cr for PSU banks for farm write-off

Rs50,000 cr for PSU banks for farm write-off
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First Published: Wed, May 06 2009. 11 39 PM IST
Updated: Wed, May 06 2009. 11 39 PM IST
New Delhi: The government is expected to release Rs5,000 crore to public sector banks, due to them on account of farm debt waiver scheme, in a week, a finance ministry official said on Wednesday.
”PSU banks will get Rs15,000 crore on account of farm loan waiver in 2009-10 and we will release the first tranche of Rs5,000 crore in a week’s time,” the official said.
NewsWire18
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Banks parked about Rs1.45 trillion with RBI
Mumbai: Banks parked about Rs1.45 trillion with the central bank, signalling heavy liquidity in the system. This is the highest ever amount parked with the Reserve Bank of India (RBI), and comes even after the closing of one liquidity adjustment facility (LAF) window. LAF is conducted by RBI to inject or suck out liquidity from the system. Banks had applied to park at least Rs1.47 trillion with RBI but the later rejected some bids.
Anup Roy
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First Published: Wed, May 06 2009. 11 39 PM IST