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Capital infusion into 13 banks by March 31: Chidambaram

Capital infusion into 13 banks by March 31: Chidambaram

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