The government will infuse Rs 48,239 crore in 12 PSU banks to help them maintain regulatory capital requirements and finance growth plans, said financial services secretary Rajeev Kumar on Wednesday.
Rs 4,638 crore and Rs 205 crore will be provided to Bank of India and Bank of Maharashtra. These banks have recently come out of the regulatory supervisory framework PCA of the RBI.
Kumar said 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.
The government will pump in Rs 12,535 crore in four other banks under PCA -- Central Bank of India, United Bank, UCO Bank and Indian Overseas Bank.
The government in December had infused Rs 28,615 crore into seven public sector banks (PSBs) through recapitalisation bonds.