Govt to infuse Rs 48,239 crore in 12 PSU banks

The government on February 20 approved recapitalisation of 12 public sector banks through an infusion of Rs 48,239 crore.

Corporation Bank gets the highest infusion of Rs 9,086 crore while Bank of Maharashtra gets the lowest at Rs 205 crore.

Rajeev Kumar, Secretary Department of Financial Services(DFS), Ministry of Finance tweeted that the recapitalisation totalling Rs 1 lakh crore in FY19 will equip two better-performing public sector banks (PSBs) to be above the regulatory Prompt Corrective Action (PCA) triggers, ensure PSBs brought out remain above PCA triggers, avoid PCA for PSBs in breach, & minimum regulatory capital for all PSBs in PCA.

Here's a list of banks getting an infusion in the descending order of the amount:

Corporation Bank - Rs 9,086 crore
Allahabad Bank - Rs 6,896 crore
Punjab National Bank - Rs 5,908 crore
Bank of India - Rs 4,638 crore
Union Bank - Rs 4,112 crore
Indian Overseas Bank - Rs 3,806 crore
UCO Bank - Rs 3,330 crore
Andhra Bank - Rs 3,256 crore
United Bank - Rs 2,839 crore
Central Bank of India - Rs 2,560 crore
Syndicate Bank - Rs  1,603 crore

Bank of Maharashtra - Rs 205 crore

"Commitment to each bank as an article of faith reaffirmed! Bank Recap outlay enhanced to Rs.1.06 Lakh Cr. for FY 2018-19," Kumar tweeted.

Commitment to each bank as an article of faith reaffirmed! Bank Recap outlay enhanced to Rs.1.06 Lakh Cr. for FY 2018-19. An impetus to credit creation & to propel economic growth of world’s fastest growing economy @PMOIndia @FinMinIndia @PIB_India

— Rajeev kumar (@rajeevkumr) 20 December 2018