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28,615 cr INR Capital to be Infused in 7 PSBs Soon
December 29, 2018
According to sources, the government is planning to inject capital amounting to 28,615 crores INR into the public-sector banks (PSBs). This will be implemented in the form of recapitalization bonds before the new year.
Sources said that Bank of India (BOI) will receive the biggest chunk of the funds at 10,086 crores followed by Oriental Bank of Commerce (OBC) which is expected to receive around 5,000 crores INR. These funds will be used by the banks to meet the capital requirement norms and improve their financial condition in the market.
Photo credit: Dr PS Sahana * Kadamtala Howrah on Visualhunt.com / CC BY
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