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12 Public Sector Banks to Receive ₹48,000 cr from Center
February 22, 2019
This Wednesday, the government announced that it will release the final recapitalization tranche amount of ₹48,239 crores for 12 Public Sector Banks (PSBs) so that they can be taken out of the prompt corrective action (PCA) framework. These are Union Bank, Punjab National Bank, Central Bank, Allahabad Bank, Syndicate Bank, UCO Bank, Corporation Bank, Bank of Maharashtra, Andhra Bank, United Bank, and Bank of India.
The government had announced a recapitalization scheme worth ₹2.11 lakh crores for the financially weak PSBs in October 2017. The funds have been released in multiple tranches since then.
Photo credit: Got Credit on Visual Hunt / CC BY
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