Govt allocates Rs 22,915 crore capital to 13 Public Sector Banks

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To enhance lending operations and to raise more money from the market, the Indian Government today allocated Rs 22,915 crore capital to 13 PSU banks including State Bank of India (SBI), Punjab National Bank (PNB) and Indian Overseas Bank (IOB). The State Bank of India has got the maximum Rs 7,575 crore followed by Indian Overseas Bank that got Rs 3,101 crore and Punjab National Bank which got 2,816 core of funds from the government.

75% of the amount allocated is being released now to provide liquidity support for lending operations
as also to enable banks to raise funds from the market, the remaining amount will be released based on performance, with particular reference to greater efficiency, growth of both credit and deposits and reduction in the cost of operations.

Important Note :  This is the first tranche of capital infusion for the fiscal and more funds would be provided in future depending upon the performance of PSU banks.

Here is the Complete list along with the amount (in crore)

	Name of the Bank	Amount (in Crore)
	Allahabad Bank
	Bank of India
	Canara Bank
	Central Bank of India
	Corporation Bank
	Indian Overseas Bank
	Punjab National Bank
	State Bank of India
	Syndicate Bank
	Union Bank of India
	United Bank of India

 

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