Centre infuses capital of ₹14,500 cr. in four PSBs
The Hindu
The Centre has infused a fresh capital of ₹14,500 crore in four public sector lenders to improve their financial health. The lenders said they received the funds from the Centre on Wednesday as part o
The Centre has infused a fresh capital of ₹14,500 crore in four public sector lenders to improve their financial health. The lenders said they received the funds from the Centre on Wednesday as part of Central Government’s investment in the preferential allotment of equity shares for FY21. On Wednesday, Central Bank of India received ₹4,800 crore, IOB ₹4,100 crore, Bank of India ₹3,000 crore and UCO Bank ₹2,600 crore. As on date, the Centre holds 95.84% stake in the IOB, 94.44% in UCO Bank, Bank of India 89.10% and 89.78% in Central Bank of India and the rest are held by the public. Except Bank of India, the other three PSBs are under the RBI’s prompt corrective action framework.
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