Government to Infuse over Rs88 Thousand Crore in 20 PSB

The government has announced 88,139 crore rupees capital infusion in 20 public sector banks, PSBs, during the current fiscal ending 31st March to boost lending and revive growth. IDBI Bank will get the most- Rs 10,610 crore followed by Bank of India, Rs 9,232 crore.

The 20 banks that will receive the capital infusion during this phase include Bank of India, UCO Bank and Punjab National Bank. In October last year, the government had announced over two lakh crore rupees bank recapitalization plan spread over spread over two financial years  2017-18 and 2018-19.
Static/Current Takeaways Important for Syndicate Bank PO 2018 Exam-
  • Till now, 11 PSBs have been included under Prompt Corrective Action (PCA).

Source- AIR World Service