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Economy

Finance ministry to provide capital to more banks by September

Updated : July 19, 2018 06:28 AM IST

Two or three more banks will need capital to meet the norms in the coming few weeks, the official said, adding that they would get funds by September.
A high level of bad loans and widening losses have made it difficult for banks to service these bonds from their own earnings.
Five banks which will soon get capital include Punjab National Bank (PNB), hit by Nirav Modi scam, which will get the highest amount of Rs 2,816 crore out, while Allahabad Bank to get Rs 1,790 crore.
Finance ministry to provide capital to more banks by September
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