Finmin approves USD 1.64 billion capital infusion in 5 PSU Banks
Government has approved capital infusion of USD 1.64 billion in five public sector banks, including scam-hit Punjab National Bank, Corporation Bank and Andhra Bank, to help them meet regulatory capital requirements. Punjab National Bank will get maximum at USD 409.6 million, followed by Corporation Bank with USD 371.7 million. Others are Indian Overseas Bank (USD 313.8 million), Andhra Bank (USD 293.7 million) and Allahabad Bank (USD 260.4 million).
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