The Central Government has announced to infuse Rs 14,500 crore in four state-owned lenders namely Central Bank of India, Indian Overseas Bank, Bank of India and UCO Bank in 2020-21, by issuing non-interest bearing bonds to these banks. This infusion will complete the government’s total capital infusion of Rs 20,000 crore in public sector banks for the current financial year 2020-21. Earlier in December 2020, it infused Rs 5,500 crore in Punjab and Sind Bank.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
The Recapitalisation bonds will be issued with six different maturities, and the special securities would be “at par” for the amount as per the application made by the eligible banks. Banks require capital to meet the mandatory reserve requirements laid out by the Reserve Bank of India (RBI), make provisions for bad loans and kick-start the lending cycle when demand revives in the economy.
The 8th edition of the India-USN EOD Exercise 2026 was concluded at the Southern Naval…
The Ministry of Youth Affairs and Sports declared the National Sports Awards 2025 on August…
India is rapidly emerging as a major semiconductor manufacturing and packaging hub. Under the Semicon…
Indian-origin astronomer, Dr. Rohan Naidu, discovered a unique cosmic object that is known as "Black…
Indian chess players Vignesh Vermula and Saranya Devi have won gold medals in the Open…
India has launched its first-ever Guide to Grasslands and Other Open Natural Ecosystems (ONEs) at…