Punjab National Bank (PNB) will get a capital infusion of Rs 2,816 crore.New Delhi: Government will inject a total Rs 11,336 crore ($1.65 billion) in five state-run banks, including fraud-hit Punjab National Bank, in a week or so, a senior government official told Reuters on Wednesday.
Punjab National Bank will get Rs 2,816 crore, while Corporation Bank, Indian Overseas Bank, Andhra Bank and Allahabad Bank are the other four lenders in which the government will inject capital in the latest round, said the official who did not want to be named.The official said the capital was part of a total Rs 2.11 trillion rupee package that was announced last year, and would not require separate approval from parliament.There is no demand from banks at this stage to increase the package beyond the planned sum, the official said.
Thomson Reuters 2018