×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

Govt yet to finalize World Bank loan for bank recapitalization

Govt yet to finalize World Bank loan for bank recapitalization
PTI
Comment E-mail Print Share
First Published: Tue, Jul 14 2009. 04 56 PM IST
Updated: Tue, Jul 14 2009. 04 56 PM IST
New Delhi: The government said today it is yet to finalize the exact amount of capital it wants from the World Bank for recapitalization of the public sector banks.
The government has proposed to provide funds to public sector banks to meet credit needs and maintain a comfortable Risk-weighted Asset ratio through World Bank assistance, minister of state for finance Namo Narain Meena informed the Rajya Sabha.
“However, the details in this regard including the exact amount of capital to be provided to the PSBs (public sector banks) have not be finalised,” he said.
Replying to another question, Meena said, financial frauds to the tune of Rs3859.2 crore were reported by banks, including urban cooperative banks, from 2006 to 2008.
In 2008, the commercial banks reported 21,980 fraud cases involving Rs1431.11 crore, while 457 such cases of Rs34.16 crore were found by the urban cooperative banks, he said.
The commercial banks reported 22,280 fraud cases of Rs1,077 crore in 2007, while in 2006, 21,687 such cases were reported involving Rs1200 crore.
The urban cooperative banks reported 591 cases in 2007 and 125 in 2006. The amount involved in these years stood at Rs62 crore and Rs53 crore respectively.
Comment E-mail Print Share
First Published: Tue, Jul 14 2009. 04 56 PM IST