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Capital infusion into 13 banks by March 31: Chidambaram
18 Mar 2013, 11:41 AM IST
Finance Minister P. Chidambaram, who today morning met the heads of public-sector banks in New Delhi, addressed a press conference.
Finance Minister P. Chidambaram, who today morning met the heads of public-sector banks in New Delhi, addressed a press conference.
The broad agenda of the meeting included direct benefit transfer, deteriorating asset quality and credit growth.
Here are the highlights of what Mr. Chidambaram said.
- Over 215 projects are stalled in infrastructure
- The total investment is Rs 7 lakh crore
- We have identified the main reasons for the projects being stalled
- If the discoms are restructured then a lot of these projects will move forward
- The 126 new projects stuck worth a total investment of more than Rs 3 lakh crore
- Iron and steel, and cement projects are moving on
- Port projects are also expected to move ahead
- Road and Power projects are stuck, which we will have to push forward
- We will complete the capital infusion into the 13 banks before March 31
- The Cabinet Committee on Investments will meet as soon as Parliament goes into recess
- Chairmen of many banks have told me that they will open all-women branches
- By March 31, 2014, all branches will have on-site ATMs
- Many banks have SLR above the BASEL III requirement
- I am sure RBI will address the issue of liquidity
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