PSBs raise funds to meet Basel-III norms
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-