Government To Infuse Over Rs. 88 Thousand Crore In 20 Public sector Banks
For the current financial year, government today announced Rs. 88,139 crore capital infusion for 20 public sector banks across the country. An additional capital assistance of Rs 88,139 crore will be provided by the Center to banks. Union Finance Minister Arun Jaitley said on Wednesday. The money was allotted after all the needs were taken into consideration.
IDBI Bank getting a maximum of Rs. 10,610 crores. State Bank of India 8,800 crore, Bank of India Rs. 9,232 crores will be provided. Public sector banks have been facing problems with nonsense assets and durables. In October last year, the government announced a bank recapitalization of Rs.2.1 lakh crore to bring them to the fore. The total capital will be given to banks in 2017-18 and 2018-19 financial years.
Banks included in infuse are f
1. IDBI Bank 10.610 crore
2. SBI Rs. 8,800 crore
3. Bank of India Rs 9,232 crores
4. UCO Bank Rs 6,507 crores
5. Punjab National Bank Rs 5,473 crores
6. Bank of Baroda Rs. 5,375 crores
7. Central Bank of India Rs 5,158 crores
8. Canara Bank Rs 4,865 crore
9. Indian Overseas Bank is worth Rs 4,694 crore
10. Union Bank of India Rs 4,524 crores
11. Oriental bank Rs 3,571 crore
12. Dena Bank is worth Rs 3,045 crore
13. Bank of Maharashtra Rs 3,173 crore
14. United Bank of India Rs.2,634 crore
15. Corporation Bank Rs.2,187 crores
16. Syndicate Bank Rs.2,839 crore
17. Andhra Bank Rs. 1,890 crore
18. Allahabad Bank Rs. 1,500 crore
19. Punjab and Sind Bank Rs. 785 crore.