FM might present supplementary demand for grants today

Finance Minister Arun Jaitley might present the first supplementary demand for 2015-16 grants in the Rajya Sabha on Friday.

The supplementary demand seeks Parliament’s nod for more budgetary and extra-budgetary spending demands Stock Market Trading Tips

Additionally, on the same day, Jaitley’s deputy, Jayant Sinha, might present in the Lok Sabha the annual accounts and reports of 2014-15 for the Securities and Exchange Board of India and some state-owned banks (including State Bank of India, Allahabad Bank, Central Bank of India and Punjab National Bank).

Television channels also reported that Jaitley could introduce a detailed recapitalisation road map for state-owned banks. This is likely to be for a four-year period, and Parliament’s nod for an initial recapitalisation tranche of Rs 12,500 crore might be sought, they reported.

Meanwhile, in a written reply in the Rajya Sabha on Thursday, Jaitley said the government was examining the possibility of enhancing the capital allocation for public sector banks (PSBs) this year. A budgetary allocation of Rs 7,940 crore has been made in this regard for 2015-16 Himanshu Tiwari Astrologer

Besides, he said, it had decided to allow PSBs to raise capital from the market through follow-on public offers or qualified institutional placement. This will bring the government’s shareholding down to 52 per cent, so as to decrease banks’ reliance on capital infusion from the state.

The government has been infusing capital in PSBs with the twin objective of adequately meeting the credit requirement of productive sectors and to maintain regulatory capital adequacy ratios, he said. Adding that the government, as majority shareholder, was committed to keeping all PSBs adequately capitalised Indian Stock Market Trading Tips