your password has been reset successfully, Please login again.

Govt to inject $1.65 bn into 5 state run banks including PNB

Punjab National Bank will 28.16 billion rupees, 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.
BY BEx Bureau
BusinessEx
Jul 18, 2018

Indias government will inject a total 113.36 billion rupees ($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 28.16 billion rupees, 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 capital was part of a total 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.

Please add your Comment
SIMILAR News
October 16, 2018
This is the second acquisition of DailyNinja in Hyderabad after the acquisition of 4amShop in August ...More
By Vaishnavi Gupta
October 13, 2018
With this acquisition, the Bengaluru-based mobile entertainment services company will expand its bus ...More
By Vaishnavi Gupta
October 12, 2018
As part of the deal, Advent purchased entire 40% stake held by Indian PE firm Kedaara Capital and a ...More
By Vaishnavi Gupta
October 11, 2018
Future Enterprises will pay Rs 20 crores for the stake and Rs 5 crores additionally, if required. ...More
By Vaishnavi Gupta
October 11, 2018
The acquisition will help MobiKwik to strengthen its foothold in the digital financial services sect ...More
By Vaishnavi Gupta
October 10, 2018
The combined entity will be providing a comprehensive solution to convert waste plastic into valuabl ...More
By Vaishnavi Gupta
October 09, 2018
The company is expecting that the AP unit will help it to strengthen its presence in the highly comp ...More
By Vaishnavi Gupta
October 09, 2018
With the acquisition of Two Roads, Hyatt will expand its brand presence into 23 new markets. ...More
By Vaishnavi Gupta
October 08, 2018
The acquisition marks Mercer's entry into the global talent assessment market. ...More
By Vaishnavi Gupta
October 06, 2018
Through this acquisition, Thomas Cook is foraying into the travel technology space. ...More
By Vaishnavi Gupta
October 03, 2018
Jakarta-based POS provider Moka has bought GetFocus, a Mumbai-headquartered retail analytics company ...More
By Vaishnavi Gupta
October 03, 2018
The acquisition is in line with Tata Communications' growth strategy for the global mobility and IoT ...More
By Vaishnavi Gupta