Finance minister Arun Jaitley in his Budget speech for 2016-17 had proposed to allocate Rs25,000 crore towards recapitalisation of PSU banks. New Delhi: State-owned banks looking forward to the next round of capital infusion will need to fulfill a new set of criteria, including credit recovery, as the finance ministry has revised the recapitalisation norms. The government in July had announced the first round of capital infusion of Rs.22,915 crore for 13 banks. Out of the Rs.22,915 crore, State Bank of India (SBI) was provided Rs.7,575 crore followed by Indian Overseas Bank (Rs.3,101 crore) and Punjab National Bank (Rs.2,816 crore). Finance minister Arun Jaitley in his Budget speech for 2016-17 had proposed to allocate Rs.25,000 crore towards recapitalisation of PSU banks.

Source: Mint September 11, 2016 06:56 UTC