Mid-sized lender Union Bank of India plans to raise Rs 3,000 crore towards equity to meet Basel-III norms after 2015. Though it may not need any fresh equity until 2015, the bank has given a proposal to the Ministry of Finance for the additional capital and it is currently being studied, Union Bank Chairman and Managing Director D Sarkar said. The government roughly holds 58 per cent in the bank as on June 30, 2013.
FlashNews:
India’s Ports Surge in Efficiency, Investment: Union Minister Sonowal
Air India Completes DGCA-Mandated Fuel Switch Inspections on Boeing Fleet
Genesys First in India to Link DIGIPIN with 2D and 3D Maps for Digital Address Infrastructure
India’s Rajya Sabha Passes Bills of Lading, 2025: A Landmark Maritime Reform
Rail Car Inspections Begin on Vaitarna-Kharbo Stretch; Western DFC Nears Completion
DEL Vibes: Immersive Cultural Showcase Launched at Delhi International Airport
CS TECH Ai Named PMC for ₹58.1 Million Sewage Revamp in Nashik
India’s ₹35 Trillion Energy Push Hinges on States, Says Puri at Urja Varta
Lending Versatility to Modern Infrastructure with Coated Steel
India Post to Grow Revenue by 30% in FY26 under Scindia’s Vision for Performance-Driven Public Service
Solar Now Far Cheaper Than Conventional Energy as Tariffs Fall: Joshi
India Surpasses Clean Energy Goal with 50% of Grid Now Powered by Non-Fossil Sources
Mumbai-Ahmedabad Bullet Train to Launch with Japan’s Next-Gen Shinkansen Technology
From Trade to Tourism, Sonowal Envisions a New Global Role for BIMSTEC
Railways to Begin Massive CCTV Rollout Across Trains to Boost Onboard Security
Ceinsys Tech Wins ₹1.15 Billion MMRDA Contract for Real-Time Infrastructure Monitoring Platform
Siemens Secures ₹7.73 Billion Contract for Nagpur Metro’s Advanced Signalling and Telecom Systems
DFCCIL Launches India’s First Private Gati Shakti Cargo Terminal on Western Freight Corridor
India Clears Elon Musk’s Starlink for Satellite Internet Rollout
Home » Basel-III norms
Tag: Basel-III norms
Govt to finalise Rs 14,000 cr infusion for its banks
To meet global capital requirement norms (or Basel III norms) of public sector banks in the country, the Union Finance Ministry is likely to finalise Rs 14,000-crore capital infusion into the banks by the end of this month. An official concerned said that the government has received capital requirement proposals from all public sector banks and it is evaluating their proposals at the moment. Hopefully, capital allocation to banks would be finalised by August-end.