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Govt to infuse Rs 6,990 crore in nine PSBs; SBI leads the pack

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sbiGovernment has announced a capital infusion of Rs 6,990 crore in nine public sector banks including State Bank of India (SBI), Bank of Baroda (BoB), Punjab National Bank (PNB) for enhancing their capital and meeting global risk norms.

Among the beneficiaries, SBI leads the pack with a capitalisation of Rs 2,970 crore, followed by BoB Rs 1,260 crore, PNB Rs 870 crore and Canara Rs 570 crore.

“Out of the current year’s budget, the Government of India has decided to infuse Rs 6,990 crore in nine Public Sector Banks (PSBs) for which orders are being issued,” an official statement said.

The capital infusion has been decided on the basis of bank’s performance.

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