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8 Banks to Raise Funds by End of FY

December 04, 2017

8 Banks to Raise Funds by End of FY

As per the 2.11 lakh crore recapitalization plan, about eight public sector banks have decided to raise funds from the market by the end of March 2018.

According to the sources, some of these banks have already received approval from the finance ministry, while others are in the process. The majority of the banks are going to take the Qualified Institutional Placement (QIP) route.

As the Punjab National Bank (PNB) is planning to hit the market first with a Rs. 5,000 crore target, others including Bank of India and Union Bank of India are to follow suit.

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