Bank recap tied to reforms, govt tells PSBs

'It's not an easy money which is going to come, that is the main point,' said Rajiv Kumar, financial services secretary

Exhorting state-owned lenders to go in for reforms, Financial Services Secretary Rajiv Kumar on Sunday said banks are not going to get easy money as part of the Rs 2.11-lakh crore recapitalisation plan of the government.

Speaking to the media after the first PSB Manthan here, he said the Rs 1.35-lakh crore recapitalisation bonds will be front-loaded and the contours of the bonds are being decided at the level of the finance minister. Banks will also be getting nearly Rs 18,000 crore under the Indradhanush plan.

“Everything is linked to the reforms which each board will consider within a short time as