CCEA okays special securities conversion

The Cabinet Committee on Economic Affairs on Friday approved the conversion of special securities issued by the government to nationalised banks as capital support, to tradable and dated government securities. The total net capital support by the government till date to banks adds up to Rs 22,808 crore. During his Budget speech, Chidambaram had said, 8216;8216;Thanks to the capital support, a strong banking sector has emerged8217;8217;.