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Centre to infuse Rs 8,586 crore capital in 10 weak banks

Centre to infuse Rs 8,586 crore capital in 10 weak banks

Monday, March 20, 2017, 8:13 AM

Contrary to its earlier stand of infusing fresh capital in strong banks, the central government has decided to infuse fresh capital totaling Rs.8,586 crore into 10 weak banks subject to commitment to quarterly milestones by bank boards, management, employees and unions. The central government has written to the heads of 10 banks indicating the amount of fresh capital it would infuse during FY2017.
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