Current Affairs - Miscellaneous - Discussion

Rating agency CRISIL has upgraded its outlook on 18 Indian public sector banks (PSBs) from "negative" to "stable". This upgrade by CRISIL was on account of PSB recapitalisation plan unveiled by Government on January 24, 2018. Accroding to CRISIL, capital infusion will improve the financial risk profile of these banks and will help them meet Basel-III regulatory capital norms. Along with capital infusion announcement, Government also unveiled 'Enhanced Access and Service Excellence (EASE)', a six-fold roadmap for reforms in PSBs which will improve the overall functioning of these banks.