AMN
The government has infused 10,882 crore rupees in four public sector banks, including UCO Bank and Syndicate Bank. It is a part of 28,615 crore rupees capital infusion to be done in about half a dozen public sector lenders.
UCO Bank has received 3,074 crore rupees in the equity by way of preferential allotment yesterday. Besides, Bank of Maharashtra got 4,498 crore rupees, Syndicate Bank 1,632 crore rupees and Central Bank of India 1,678 crore rupees.
The recapitalisation would enhance the lending capacity of PSBs and help them come out of the Reserve Bank of India’s Prompt Corrective Action (PCA) framework.