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Upfront Infusion of ₹70,000 cr to be Provided to Banks
August 26, 2019
Finance Minister Nirmala Sitharaman said that the government is looking to inject around ₹70,000 crores for the recapitalization of public sector banks soon. This will increase the liquidity offered to the banks to ₹5 lakh crores. The funds will be released within the current financial year, she said.
According to analysts, lenders like PNB, BoI, etc. had been interested in raising capital from the market in the second half of the financial year. However, their weak balance sheets posed a challenge which is why they were seeking government’s intervention as that holds a majority stake in them.
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