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Union Government decided to infuse 6990 crore rupees in nine Public Sector Banks

Feb 9, 2015 13:00 IST

Union Government on 7 February 2015 decided to infuse 6990 crore rupees in nine Public Sector Banks to enhance their capital and meet global risk norms. The capital infusion was decided on the basis of performance of each bank.

This is the first tranche of capital infusion for which the government had allocated 11200 crore rupees in the Union Budget 2014-15.

The capital infusion into each bank was made on the basis of adoption of new criteria by the Union government.

According to the new criteria, the banks would be rewarded with extra capital for their equity on the basis of their efficiency and performance so as to further strengthen their position. The criteria includes
• Weighted average of Return on Assets (ROA) for all PSBs for last three years put together
• Return on Equity (ROE) for these banks for the last financial year.

Amount allocated to different banks on the basis of the above mentioned two efficiency criteria:

S. No.

Name of the Bank

Amount (Rupees in crore)

1

State Bank of India (SBI)

2970

2

Bank of Baroda (BoB)

1260

3

Punjab National Bank (PNB)

870

4

Canara Bank

570

5

Syndicate Bank

460

6

Allahabad Bank

320

7

Indian Bank

280

8

Dena Bank

140

9

Andhra Bank

120

 

Total

6990

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Read more Current Affairs on: Union Government , Budget 2014-15 , Public Sector Banks

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