 "Public sector banks (PSBs) have proposed the Finance Ministry their plan to raise Rs 54,800 crore through Additional Tier-1 (AT-1) and Tier-2 bonds in the current financial year (FY25), 37 per cent more than the Rs 39,880 crore raised in FY24, accord")
Payments banks have urged the Union finance ministry to increase their deposit limit for each account to ₹5 lakh, according to a source who participated in a meeting, chaired by the Department of Financial Services Secretary M Nagaraju, in New Delhi. At present, they can accept deposits of up to ₹2 lakh.
The previous increase was in April 2021, when the maximum end-of-day balance was raised from ₹1 lakh to ₹2 lakh. In addition to the deposit limit, such banks have asked for permission to lend to the microfinance sector, with a cap on loans, to diversify their income streams.
