The Centre has approved ₹48,239 crore recap to 12 public sector banks to strengthen their balancesheets and help them better deal with the Reserve Bank of India's Prompt Corrective Action (PCA) framework.

The recap approval and the individual allocations for these 12 banks were disclosed in a tweet by DFS Secretary Rajeev Kumar on Wednesday evening.

Two banks — Allahabad Bank (₹6,896 crore) and Corporation Bank (₹9,086 crore) — have got ₹15,982 crore to equip these better performing PCA banks to be above the regulatory PCA thresholds.

Also, ₹14,879 crore has been infused into four banks (PNB, Union bank, Andhra Bank and Syndicate Bank) to ensure that these non-PCA banks continue to remain above the regulatory capital norms of PCA .

While Punjab National Bank has received ₹5,908 crore recap, Union Bank and Andhra Bank have got ₹4,112 crore and ₹3,256 crore respectively. Syndicate Bank has received ₹1,603 crore.

The Centre has also pumped in ₹4,843 crore into two PSBs — Bank of India and Bank of Maharashtra — that exited PCA to remain above PCA triggers. While Bank of India has got ₹4,638 crore, Bank of Maharashtra has been allocated ₹205 crore.

Four PSBs — Central Bank, United Bank, UCO Bank and Indian Overseas Bank— have been given 12,535 crore to help them meet minimum regulatory norms. While Central Bank has been allocated capital of ₹2,560 crore, Indian Overseas Bank has got ₹3,806 crore. The recap on United Bank is ₹2,839 crore and in the case of UCO Bank, the recap is ₹3,330 crore.