Government to pump additional Rs.12,000 crore into 7 PSBs
The Finance Ministry has formally notified recapitalization of seven banks for 2011-12 viz. SBI, Indian Overseas Bank, IDBI Bank, PNB, Central Bank of India, UCO Bank and Bank of Maharashtra. These Bank will get a total of Rs.12,000 crore (from the Government) to help them maintain a capital to risk asset ratio (CRAR) of 8% now with the fresh allocation, Bank may go for preferential allotment of equity shares to the extent of amount allocated to them.
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