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28-Dec2018

Govt to infuse Rs 28,615 crore in 7 PSBs by end of December

With an aim to help public sector banks (PSBs) to come out of the Reserve Bank of India's Prompt Corrective Action (PCA) framework and enhancing the lending capacity of them, the government may infuse Rs 28,615 crore into seven PSBs through recapitalisation bonds by the end of December 2018.  The amount infused will help the banks meet regulatory capital requirement, and its disbursement might take place before December 31, 2018.

Out of these seven PSBs, it is expected that Bank of India will get the highest amount of Rs 10,086 crore, followed by Oriental Bank of Commerce, which might get Rs 5,500 crore, Bank of Maharashtra may get Rs 4,498 crore, UCO Bank (Rs 3,056 crore) and United Bank of India (Rs 2,159 crore) through recapitalisation bonds.

Earlier, the government had announced an infusion of Rs 65,000 crore in PSBs in 2018-19, of which Rs 23,000 crore has already been disbursed, while Rs 42,000 crore is remaining.


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