The Finance Ministry on Tuesday sought more details from the committee that had been set up to look at bank capitalisation issues.
“No decision has been taken. We will have one more meeting next week. They will have to come with more details,” the Finance Secretary, Mr R. S. Gujral, said.
The Finance Ministry is now looking for a ten-year roadmap for recapitalisation of banks. A committee set up by the Department of Financial Services made a presentation to the Secretaries of various departments in the Finance Ministry here on Tuesday.
Meanwhile, a Finance Ministry official said that the capital requirements of State Bank of India would be met so as to maintain a Tier-I capital of 8 per cent.
This committee on capitalisation of financial institutions and banks is expected to finalise its report by October 30.
Indications are that Government may look at allocating Rs 10,000-15,000 crore for capitalisation of about six public sector banks in the supplementary demand for grants during the winter session.