Businessline : 10th January, 2012 :
The Union Cabinet has given its approval for capital infusion of Rs 12,517 crore in various public sector banks (PSBs).
The capital infusion will be made into nine or 10 banks before March-end, P. Chidambaram, Union Finance Minister, said here today.
The Government had in 2011-12 infused about Rs 12,000 crore in various PSBs.
For 2012-13, the Government had in last year’s Budget provided about Rs 15,000 crore for the recapitalisation of various PSBs.
The latest round of capital infusion will help bolster the Tier-I capital of PSBs including Bank of Maharashtra, Central Bank of India and United Bank of India
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