PSBs raise funds to meet Basel-III norms

India Business Journal - - NEWS ROUND-UP -

up ven­tures in Maker vil­lage, the largest elec­tron­ics in­cu­ba­tor in Ker­ala managed by IITM-K. BPCL will sup­port fur­ther de­vel­op­ment of an un­der­wa­ter drone cre­ated by EyeROV Tech­nolo­gies and a cat­tlemilk­ing ma­chine that en­ables early de­tec­tion of dairy cat­tle dis­eases, de­vel­oped by Res­nova Tech­nolo­gies. BPCL and Ker­ala Startup Mis­sion (KSUM) are now work­ing to­gether to find promis­ing new start-ups to sup­port innovative ven­tures that are in need of fund­ing. El­i­gi­ble ven­tures could earn grants, a BPCL me­dia re­lease has said.

Pub­lic sec­tor banks (PSBs) rais­ing cap­i­tal via se­cu­ri­ties is not only credit-pos­i­tive but will also improve their loss­ab­sorb­ing ca­pa­bil­i­ties, ac­cord­ing to Moody's. The global rat­ing agency notes that fund mop-up will also help banks meet the incoming Basel-III norms and im­por­tantly re­duce their de­pen-

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