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Rs. 11,000 cr Capital Infusion Approved by FinMin for 5 PSBs
July 25, 2018
Around Rs. 11,336 crores worth of capital infusion has been approved by the finance ministry to help 5 failing public sector banks viz Andhra Bank, Punjab National Bank (PNB), Corporation Bank, Allahabad Bank, and Indian Overseas Bank (IOB). The individual allocation of funds are as follows:
● Andhra Bank: Rs. 2,019 crores
● PNB: Rs. 2,816 crores
● Corporation Bank: Rs. 2,555 crores
● Allahabad Bank: Rs. 1,790 crores
● IOB: Rs. 2,517 crores
Photo credit: Got Credit on Visual Hunt / CC BY
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