According to sources, Yes Bank is expected to roll out a plan to raise equity by December this year. SMBC may infuse around Rs 4,000 crore in the bank to increase its stake from 20 percent to 24.99 percent.
The performance of these public sector insurers will be reviewed in FY25 to plan any further capital infusion, he said.
Joshi said the government is holding internal discussions on the draft of the Insurance Bill, which includes composite licensing
The airlines said its Board of Directors, in a meeting on January 25, approved the allotment of 5.55 crore equity shares on a preferential basis to 54 subscribers.
In the past 10 Union budgets, public sector banks have got capital infusion thrice, totaling Rs 3.35 lakh crore.
According to a regulatory filing, Eternal investors and M&M will contribute Rs 350 crore and Rs 525 crore, respectively, over the next 2-3 years to strengthen the business.
The government will review the need for any capital infusion in the public insurers only next year, the official said