The government will seek Parliament's nod for additional funds for capitalising state-run banks, if required. "If additional sum is required, I will go for the second supplementary (in the Winter Session)," Finance Minister Pranab Mukherjee said, adding that the government was committed to maintaining 8% tier-I capital adequacy ration in all banks.
Financial Services Secretary DK Mittal said the state-run banks, including State Bank of India, needed 10,000-20,000 crore during the current year. The budget had provided for 6,000 crore for bank capitalisation. SBI, Bank of India, Bank of Baroda,Syndicate Bank and Indian Bank will need capital infusion during the current fiscal. SBI had sought government nod for a 20,000-crore rights issue. But the government ruled out rights issue of SBI this fiscal.
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