Centre to pump Rs. 70,000 cr. into PSU banks

  1. In a bid to boost investments, Centre will over the next four years infuse Rs.70,000 crore out of budgetary allocations into PSU banks – Rs. 25,000 in this year and the next, Rs.10,000 crore in 2017-18 and 2018-19.
  2. NIIF will make equity investments of Rs. 20,000 crore every year in commercially viable long gestation projects.
  3. Reason for the capital infusion is global and domestic slowdown in demand, menace of NPAs and lowered profitability of PSU banks.
  4. NIIF is owned 49% by the govt. outside the purview of the Parliament and CAG, and is run by commercial managers.
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