Centre approves Rs.1,800 cr each to Central Bank and IDBI Bank and Rs.1,200 cr to IOB : The Finance Ministry, on Wednesday, announced that it would infuse Rs.14,000 crore capital in various banks this fiscal, including Rs.2,000 crore in State Bank of India and Rs.1,800 crore each in IDBI Bank and Central Bank of India. Apart from the capital support from the government, public sector banks have the headroom to raise Rs.10,000 crore from the market though rights issue, qualified institutional placement (QIP) or follow-on public offer (FPO) without diluting the existing government stake. Financial Services Secretary Rajiv Takru said the money had been given to enhance equity capital. For the moment, this was good enough to see them through, he added.
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