Mumbai Aug 25 PTI Admitting that family pension for bank employees is at a paltry level the government on Wednesday announced to raise the same to 30 per cent of the last-drawn salary Earlier kin of a deceased PSB employee used to get a maximum of Rs 9284 per month as a family pension said Department of Financial Services Secretary Debasish Panda The cap has been completely removed and a uniform slab of 30 per cent at the last-drawn salary will be entitled as family pension Panda told reporters here admitting that the earlier levels were paltry This would result in the family pensions rise to as high as Rs 30000-Rs 35000 a month Panda said Similarly the ministry has also decided to increase the employers contribution in New Pension Scheme NPS to 14 per cent of the salary from the current 10 per cent he said Earlier Finance Minister Nirmala Sitharaman expressed her satisfaction at public sector banks PSBs performance in the past few years and appreciated that many of them have come out of the RBIs prompt corrective action framework Panda said a dozen PSBs have become leaner and started delivering profits which have upped the investor confidence in them and made them self-dependent for capital raising He said that since last year the banks have collectively raised over Rs 69000 crore including Rs 10000 crore in equity and are in the process of raising another Rs 12000 crore at present On the governments plans to reduce stakes in insurers Sitharaman said the government will go down to having minimum holdings in such companies She also asked the employees not to fear anything saying the government is sensitive about their concerns When asked about the reports of government mulling insurance bonds as an alternative to bank guarantees Sitharaman said it was just a suggestion that had come from the industry Meanwhile giving the progress on the National Asset Reconstruction Company Panda said the entity has been registered and the Indian Banks Association has already approached the Reserve Bank of India RBI for licence We expect that licence to come in soon Assets to be transferred have already been identified process of getting the inter-creditor agreement is also in the works CEO has been appointed and staff has been put in place he said Panda added that the government guarantee is not a concern but remains under consideration PTI AA HRS hrs

Mumbai Aug 25 PTI A day after he was arrested for making controversial remarks against Uddhav Thackeray Union minister Narayan Rane said even the Maharashtra chief minister had used unpalatable words while referring to BJP leaders Amit Shah and Yogi AdityanathSpeaking to reporters after securing bail from a Mahad court on Tuesday and further relief from the Bombay High Court on Wednesday Rane also asserted that he is not afraid of the ruling Shiv Sena in the state I am not afraid of anyone and I am not backing out My words were an expression of anger against the chief minister Uddhav Thackeray who forgot the year of Indias Independence I only told reporters what he had already said so how can it be a crime Rane said Rane made the controversial remarks on Monday after which Shiv Sena workers lodged police complaints against him in several districts Acting on these complaints police arrested Rane and produced him before the Mahad court where he was granted bail late Tuesday night Asked how he will criticise Maharashtras Shiv Sena-NCP-Congress alliance government he said I will criticise using good words Rane said Thackeray had ordered his party workers to break the jaws of people attacking the Sena Bhavan party headquarters in Mumbai Thackeray had also said that Uttar Pradesh CM Yogi Adityanath should be beaten up with sandals Rane claimed Uddhav Thackeray also called Union Home Minister Amit Shah shameless He even said he was using unparliamentary words deliberately to describe Shah What a civilised language Rane said Referring to Shiv Sena leaders referring to his alleged crimes Rane said If I was a gangster according to the Sena that party made me the chief minister Was it ok with the party I will not sit quietly We will use all parliamentary tools and legal powers and corner the MVA government in coming days he said Asked about some Shiv Sena MLAs issuing verbal threats Rane said I wonder whether they had ever killed a mouse PTI ND VT VT VT