Post Date : 14/02/2017
The Union Government is planning to come out with ‘Indradhanush 2.0’, a comprehensive plan for recapitalisation of public sector lenders. Indradhanush 2.0 will be finalised by Reserve Bank of India (RBI) after completion of Asset Quality Review (AQR) which is likely to be completed by end of March 2017. It aims to clean up the balance sheets of PSBs to ensure banks remain solvent and fully comply with global capital adequacy norms, Basel-III. Besides, revised programme of capitalisation will be also issued as part of it.
Important FactsThe RBI had embarked on the AQR exercise from December 2015 and had set a deadline of March 2017 to complete the exercise. As part of it, RBI had asked banks to recognise some top defaulting accounts as non-performing assets (NPAs) and make adequate provisions for them. Under ‘Indradhanush’ roadmap announced in 2015, the Union Government had announced an infusion of Rs. 70,000 crore in state-run banks over four years. Banks also were allowed to raise a further Rs. 1.1 lakh crore from the markets to meet their capital requirement in line with global risk norms, Basel-III.
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