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Government to infuse Rs 48239 crore in 12 public sector banks

Government to infuse Rs 48239 crore in 12 public sector banks

Indian government will infuse Rs 48,239 crore in 12 public-sector banks to provide minimum regulatory capital to banks that come under Reserve Bank of India’s prompt corrective action (PCA) framework, and to prevent weak banks from breaching the framework’s triggers.

12 Banks under Corrective Action Framework

  1. Allahabad Bank
  2. Corporation Bank
  3. Bank of India
  4. Bank of Maharashtra
  5. Punjab National Bank
  6. Union Bank
  7. Syndicate Bank
  8. Andhra Bank
  9. Central Bank
  10. UCO Bank
  11. United Bank
  12. IOB

How much they will get?

Allahabad Bank and Corporation Bank will receive maximum funding of 6896 Cr and 9086 Cr respectively.

RBI’s PCA Framework

Lending ability of as many as 11 PSBs was contained by the RBI when they were put under the PCA framework.

The restrictions under the framework, which included restriction on dividend distribution, restriction on branch expansion, restriction on management compensation and director’s fees, could be imposed as and when the banks would breach various regulatory threshold limits.

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