{"id":97672,"date":"2023-03-28T11:15:00","date_gmt":"2023-03-28T05:45:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=97672"},"modified":"2023-03-28T10:47:17","modified_gmt":"2023-03-28T05:17:17","slug":"biz-cag-banks","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-cag-banks\/","title":{"rendered":"Govt gave Rs 8,800 cr capital to SBI without the lender asking for it in FY18: CAG report"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2954426775\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The Department of Financial Services (DFS) had given Rs 8,800 crore to State Bank of India as part of recapitalisation exercise without the country&#8217;s biggest lender asking for such funds in FY18, a CAG report presented in Parliament on Monday said.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2437095554\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The department under the finance ministry did not conduct assessment of the capital requirement as per its own standard practice before recapitalisation, as per the Compliance Audit Report No. 1 of 2023 of the Comptroller and Auditor General of India on Union Government (Economic and Service Ministries &#8211; Civil) for the year ended March 2021.<\/p><p>&#8220;DFS infused Rs 8,800 crore into SBI in 2017-18 for credit growth considering it the largest PSB in the country even though there was no demand. DFS did not conduct assessment of the capital requirement as per its own standard practice before recapitalisation,&#8221; it said.<\/p><p>The report further said DFS considered cushion over and above the norms prescribed by the Reserve Bank of India (RBI) while recapitalising PSBs.<\/p><div class=\"trade-content_5\" id=\"trade-3689866017\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>&#8220;RBI had already prescribed enhanced capital requirement of additional 1 per cent on banks in India. This resulted in excess infusion of Rs 7,785.81 crore,&#8221; it said.<\/p><p>DFS infused Rs 831 crore into Bank of Maharashtra in 2019-20 against the bank&#8217;s demand of Rs 798 crore to avoid surrender of funds amounting to Rs 33 crore, it added.<\/p><p>The government recapitalises public sector banks (PSBs) for credit growth, meeting the requirement for regulatory capital, equipping better performing lenders placed under Reserve Bank of India&#8217;s Prompt Corrective Action framework to come out of it and meeting capital requirement on account of amalgamation. PTI DP CS HVA<\/p><div class=\"trade-after-content\" id=\"trade-228295919\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The Department of Financial Services (DFS) had given Rs 8,800 crore to State Bank of India as part of recapitalisation exercise without the country&#8217;s biggest lender asking for such funds in FY18, a CAG report presented in Parliament on Monday said. The department under the finance ministry did not conduct assessment of the capital requirement [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":13276,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-97672","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Govt gave Rs 8,800 cr capital to SBI without the lender asking for it in FY18: CAG report - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"The Department of Financial Services (DFS) had given Rs 8,800 crore to State Bank of India as part of recapitalisation exercise without the country&#039;s biggest lender asking for such funds in FY18, a CAG report presented in Parliament on Monday said.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-cag-banks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt gave Rs 8,800 cr capital to SBI without the lender asking for it in FY18: CAG report\" \/>\n<meta property=\"og:description\" content=\"The Department of Financial Services (DFS) had given Rs 8,800 crore to State Bank of India as part of recapitalisation exercise without the country&#039;s biggest lender asking for such funds in FY18, a CAG report presented in Parliament on Monday said.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/biz-cag-banks\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-28T05:45:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/sbi-state-bank-of-india.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"PTI News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/sbi-state-bank-of-india.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"PTI News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/biz-cag-banks\/\",\"url\":\"https:\/\/tradebrains.in\/features\/biz-cag-banks\/\",\"name\":\"Govt gave Rs 8,800 cr capital to SBI without the lender asking for it in FY18: CAG report - 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