Govt infuses liquidity of Rs 14,500 crore in 4 Public Sector Banks

New Delhi: The Government of India has infused a total capital of Rs 14,500 crore in four public sector banks (PSBs): Indian Overseas Bank, Bank of India, Central Bank of India, and UCO.

 

 

Indian Overseas Bank said, "We wish to inform that the bank has received a capital infusion of Rs 4,100 crore from the Government of India towards contribution of Central Government in the preferential allotment of equity shares of the bank during the financial year 2020-21, as government's investment."

Additionally, the Bank of India, UCO Bank, and Central Bank India have also informed that the government infused capital of Rs 3,000 crore, 4,800 crore, and 2,600 crore respectively. For the previous financial year (FY 2020-21), the Government had made a provision of Rs 20,000 crore for recapitalisation of public sector banks (PSBs).
 

 

With fund infusion in the above four PSBs, the government has achieved its target. In her Budget speech, Finance Minister Nirmala Sitharaman had said the government will infuse Rs 20,000 crore in PSBs in 2021-22 also to meet the regulatory norms.
 

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