Bank Recapitalisation Plan
The Government on February 21 announced that it will inject Rs 48,239 crore in 2018-19 into 12 public sector banks, including Allahabad Bank and Corporation Bank, to help them meet capital requirements and accelerate lending to boost growth.
About the Plan
- Corporation Bank will get the highest capital infusion at Rs 9,086 crore, followed by Allahabad Bank, which will get Rs 6,896 crore.
- Among the other lenders, Punjab National Bank will get Rs 5,908 crore, Union Bank of India Rs 4,112 crore, Andhra Bank Rs 3,256 crore and Syndicate Bank Rs 1,603 crore.
- Two other banks that received capital infusion commitments ....
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