The government will infuse a total amount of Rs 48,239 cr. in 12 PSB including fraud hit PNB. The recapitalization funds for 12 Public Sector Banks have been divided into four categories. The first category is for bringing banks above the prompt corrective action framework. Second is for banks that have recently exited the PCA. Rest will be divided among the banks for keeping them above the PCA limit and banks under the action.
An amount of Rs 6896 cr will be injected in Allahabad Bank, Rs 4112 cr in Union Bank, Rs 4638 cr in Bank of India, Rs 205 cr in Bank of Maharashtra and Rs 9086 cr in Corporation Bank. An amount of Rs 3256 cr will be pumped into Andhra Bank, Rs 1603 cr in Syndicate Bank, Rs 2560 cr in Central Bank of India, Rs 2839 cr in United Bank and Rs 3330 cr in UCO Bank as well.
The government in December as well had infused Rs 28,615 cr into 7 Public Sector Banks through recapitalization bonds.