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"To improve the capital adequacy of the public sector banks, I am going to provide around Rs 15,500 crore in 2012-13...our banks should be in a position to compete with the others," FM Pranab Mukherjee said.

At present, the centralised payment systems - RTGS and NEFT - can be accessed only by members that included public and private sector banks.
The shareholders at the general meeting approved issuance of shares to the government and LIC on preferential basis at Rs 85.46 apiece.
IDBI Bank says LIC has in-principle given approval for subscribing maximum up to 5 per cent of the pre-issue paid up equity capital of the bank.
At present, the authorised capital of Nabard is Rs 5,000 crore, of which the paid up capital is Rs 3,000 crore.
State-owned IDBI Bank on Monday said the government has decided to infuse Rs 810 crore in the bank by way of preferential allotment of shares.
The central bank, according to separate notifications, has cancelled the licences of Tamil Nadu Water Investment Company, Ashley Holdings and LSP Finance.
The bank said that it sold its entire holding of 145.3 million shares, or 9.85 per cent stake, in HDFC through the National Stock Exchange at Rs 657.56 per share.