Three PSU Banks to get Rs 2,375 crore Capital Infusion from Government

March 30, 2016: The three public sector banks including Central Bank of India and Bank of India has got an approval for capital infusion of up to Rs 2,375 crore. The government has approved the mentioned amount for these banks.

"The government of India has conveyed their approval to infuse capital funds to the tune of Rs 1,150 crore in the banks by way of preferential allotment of equity shares in favor of the government of India," BOI said in a statement.

The government has decided to infuse Rs. 5, 050 crores in the PSU Banks.  This approval is a part of the capital infusion scheme.

The government will give Rs 690 crore to Allahabad Bank while the Central Bank of India will get Rs 535 crore.

Yesterday, UCO Bank had said it will raise Rs 935 crore by issuing preferential shares to the government while Syndicate Bank will be raised up to Rs 740 crore through preferential allotment following board approval on March 31.