New Delhi : Over a dozen public sector banks (PSBs) will get Rs 46,101 crore as part of capital infusion in the current fiscal ending this month to allot shares to the government in lieu of equity capital.
These banks, including SBI, PNB, Bank of Baroda, Central Bank, Union Bank and OBC, have called shareholders’ meetings this month to pass the resolution to allot preferential shares to government so as to receive the capital.
State Bank of India (SBI) will get the largest sum of Rs 8,800 crore as government’s capital infusion.
A general meeting of SBI shareholders will be held on March 15 to pass a special resolution to create, offer, issue and equity shares, to be determined by board, aggregating to Rs 8,800 crore on preferential basis to the government, the bank said.
PNB will get Rs 5,473 crore as capital infusion.
Bank of Baroda will get Rs 5,375 crore as government equity capital; Central Bank Rs 4,835 crore; Union Bank of India Rs 4,524 crore; Oriental Bank of Commerce Rs 3,571 crore; Dena Bank Rs 3,045 crore; Syndicate Bank Rs 2,839 crore and Corporation Bank Rs 2,187 crore.
Further, the government will pump in Rs 100 crore through preference shares into IFCI to shore up its capital and enhance operations, its MD ES Rao said.