The government has approved recapitalisation of Rs 48,239 crore in 12 public sector bank, including fraud-hit Punjab National Bank.
It will infuse Rs 6,896 crore in Allahabad Bank, Rs 4,112 crore in Union Bank, Rs 4,638 crore in Bank of India, Rs 205 crore in Bank of Maharashtra, Rs 4,638 crore in Bank of India and Rs 9,086 crore in Corporation Bank.
The government will also infuse Rs 3,256 crore in Andhra Bank, Rs 1,603 crore in Syndiate Bank, Rs 5,098 crore in Punjab National Bank and Rs 2,560 crore in Central Bank of India.
The Centre will infuse Rs 2,839 crore in United Bank and Rs 3,330 crore in UCO Bank.
Earlier in the day, the Nifty PSU Bank index closed 1.72 per cent higher at 2,742.65. Shares of Punjab National Bank and Union Bank of India closed 1.79 per cent and 1.68 per cent higher at Rs 71.20 and Rs 69.65, respectively.
Central Bank rallied 3.82 per cent to Rs 29.90, while Corporation Bank and Allahabad Bank closed 2.65 per cent and 8.06 per cent up at Rs 25.15 and Rs 44.90, respectively.
It will infuse Rs 6,896 crore in Allahabad Bank, Rs 4,112 crore in Union Bank, Rs 4,638 crore in Bank of India, Rs 205 crore in Bank of Maharashtra, Rs 4,638 crore in Bank of India and Rs 9,086 crore in Corporation Bank.
The government will also infuse Rs 3,256 crore in Andhra Bank, Rs 1,603 crore in Syndiate Bank, Rs 5,098 crore in Punjab National Bank and Rs 2,560 crore in Central Bank of India.
The Centre will infuse Rs 2,839 crore in United Bank and Rs 3,330 crore in UCO Bank.
Earlier in the day, the Nifty PSU Bank index closed 1.72 per cent higher at 2,742.65. Shares of Punjab National Bank and Union Bank of India closed 1.79 per cent and 1.68 per cent higher at Rs 71.20 and Rs 69.65, respectively.
Central Bank rallied 3.82 per cent to Rs 29.90, while Corporation Bank and Allahabad Bank closed 2.65 per cent and 8.06 per cent up at Rs 25.15 and Rs 44.90, respectively.