Centre gets Lok Sabha’s nod, bags Rs 80,000 crore fund for PSBs

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Recapitalisation
Recapitalisation

Public Sector Banks (PSBs) are most likely to receive Rs 80,000 crore of fresh recapitalisation funds in this fiscal year. Centre recently acquired the final nod in this regard.

Bank namely State Bank of India, Bank of Baroda, Canara Bank and Indian Bank, are the top contenders for the additional support.

This infusion is aimed at pushing credit growth and performing lenders will be highly benefitted with the help of the proposed amount over the next two months, said an official from Ministry of Finance.

The amount is for “meeting additional expenditure towards recapitalisation of public sector banks through issuance of government securities”, said the Ministry of Finance.