Banking Update – Rs.22, 915 crore allocated for the capitalization needs of Public Sector Banks during the year 2016-17

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Rs.22, 915 crore allocated for the capitalization needs of Public Sector Banks during the year 2016-17

In line with the announcements made under Indradhanush and the Union Budget, Government has undertaken an exercise to assess the capitalization needs of Public Sector Banks during the year 2016-17.  The capital infusion exercise for the current year is based on an assessment of need as assessed from the CAGR of credit growth for the last five years, banks’ own projections of credit growth and an objective assessment of the potential for growth of each Public Sector Bank.

Consequent upon the above exercise, 75% of the amount collected for each bank is being released now to provide liquidity support for lending operations as also to enable banks to raise funds from the market.  The remaining amount, to be released later is linked to performance, with particular reference to greater efficiency, growth of both credit and deposits and reduction in the cost of operations.  Total Rs.22, 915 crore is being allocated to following banks at present.


S. No.
Name of Bank Amount (in crore)
1 Allahabad Bank 44
2 Bank of India 1784
3 Canara Bank 997
4 Central Bank of India 1729
5 Corporation Bank 677
6 Dena Bank 594
7 Indian Overseas Bank 3101
8 Punjab National Bank 2816
9 State Bank of India 7575
10 Syndicate bank 1034
11 UCO Bank 1033
12 Union Bank of India 721
13 United Bank of India 810
  Total 22915

 

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Antara Tripathy M.Sc., B.Ed. by qualification and bring 15 years of media reporting experience.. Coverred many illustarted events like, G20, ICC,MCCI,British High Commission, Bangladesh etc. She took over from the founder Editor of IBG NEWS Suman Munshi (15/Mar/2012- 09/Aug/2018 and October 2020 to 13 June 2023).
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