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Rs. 11,000 cr Capital Infusion Approved by FinMin for 5 PSBs

July 25, 2018

Rs. 11,000 cr Capital Infusion Approved by FinMin for 5 PSBs

Around Rs. 11,336 crores worth of capital infusion has been approved by the finance ministry to help 5 failing public sector banks viz Andhra Bank, Punjab National Bank (PNB), Corporation Bank, Allahabad Bank, and Indian Overseas Bank (IOB). The individual allocation of funds are as follows:

●       Andhra Bank: Rs. 2,019 crores
●       PNB: Rs. 2,816 crores
●       Corporation Bank: Rs. 2,555 crores
●       Allahabad Bank: Rs. 1,790 crores
●       IOB: Rs. 2,517 crores

Photo credit: Got Credit on Visual Hunt / CC BY

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