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Tag: Non Performing Assets

Modi Govt to Infuse Rs 88K cr in 20 Public Banks

Jan. 24 Economy Comments

[New Delhi] Modi Govt to Infuse Rs 88K cr in 20 Public Banks
The unprecedented Rs 2.1 lakh crore bank recapitalisation plan announced in October last year was to be spread over two financial years — 2017-18 and 2018-19.
Government of India today announced Rs 88,139 crore capital infusion in 20 public sector banks (PSBs) during the current fiscal, As per Finance Minister Arun Jaitley
IDBI Bank getting the most — Rs 10,610 crore.
State Bank of India will get Rs 8,800 crore capital and
Bank of India, Rs 9,232 crore.
UCO Bank will get Rs 6,507 crore;
Punjab National Bank – Rs 5,473 crore;
Bank of Baroda – Rs 5,375 crore;
Central Bank of India – Rs 5,158 crore;
Canara Bank – Rs 4,865 crore;
Indian Overseas Bank – Rs 4,694 crore and
Union Bank of India – Rs 4,524 crore.
Oriental Bank of Commerce would get Rs 3,571 crore,
Dena Bank Rs 3,045 crore,
Bank of Maharashtra Rs 3,173 crore,
United Bank of India Rs 2,634 crore,
Corporation Bank Rs 2,187 crore,
Syndicate Bank Rs 2,839 crore,
Andhra Bank Rs 1,890 crore,
Allahabad Bank Rs 1,500 crore,
Punjab and Sind Bank Rs 785 crore.
The PSBs are faced with mounting non-performing assets (NPAs) or bad loans, putting the financial sector under stress, and need to be recapitalised.
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