In order to help maintain regulatory capital requirements and finance growth plans, the finance ministry on Wednesday announced to pump in Rs 48,239 crore in 12 public sector banks. The government will infuse Rs 9,086 crore in Corporation Bank and Rs 6,896 crore in Allahabad Bank -- the two "better-performing" banks currently under the Prompt Corrective Action supervision of the …
Finance Minister Arun Jaitley has announced a Rs 2.11 lakh crore road map for strengthening public sector banks, including re-capitalisation bonds. The capital infusion will be accompanied by reforms to enable the state-owned banks to play a major role in the financial system and give a strong push to the job-creating MSME sector.
