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Here is the breakup of the fresh money government is injecting into public sector banks

Here is the breakup of the fresh money government is injecting into public sector banks

Here is the breakup of the fresh money government is injecting into public sector banks
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By CNBC-TV18 Aug 30, 2019 6:19:52 PM IST (Published)

The government on Friday announced a series of mergers of public sector banks and injection of money as it looks to revive the banking sector in the country.

The government on Friday announced a series of mergers of public sector banks and injection of money as it looks to revive the banking sector in the country.

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The government is hoping that pumping money into the institutions that dominate India’s banking landscape will help them overcome the massive bad debt problems that has roiled the sector in recent years.
The amount of recapitalisation money totals Rs 55,250 crore.
Below is the breakup of the money a select list of public lenders will receive from the government.
1. Punjab National Bank:  Rs 16,000 crore
2. Union Bank of India:  Rs 11,700 crore
3. Bank of Baroda:  Rs 7,000 crore
4. Canara Bank: Rs 6,500 crore
5. Indian Bank: Rs 2,500 crore
6. Indian Overseas Bank:  Rs 3,800 crore
7. Central Bank of India:  Rs 3,300 crore
8. UCO Bank: Rs 2,100 crore
9. United Bank of India: Rs 1,600 crore
10. Punjab & Sind Bank:  Rs 750 crore
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