Fresh slippages declined and the system-level provision coverage ratio jumped to 60.5 per cent from 48.3 per cent a year ago. The capital adequacy ratio of the banking system has increased to 14.3 per cent, much higher than the Basel norms. This has benefited from the recapitalisation of PSBs in the order of ₹ 2.9 lakh crore by the Government in the recent period.
Mergers of Public Sector Banks 13. The government, with an objective to create strong and competitive banks, has announced an amalgamation of PSBs in order to create stronger banks with global presence.