Business »  Topic »  Banks to get upfront capital infusion of Rs 70,000 crore from government

Banks to get upfront capital infusion of Rs 70,000 crore from government


This comes as a major relief for public sector banks that are in dire need for capital amid higher provisioning against bad loans.

The government has decided to inject Rs 70,000 crore budgeted for the recapitalisation of public sector banks in the current financial year, on an immediate basis, Finance Minister Nirmala Sitharaman said. The move will release liquidity to the tune of Rs 5 lakh crore into the banking system for lending.

This comes as a major relief for public sector banks that are in dire need for capital amid higher provisioning against bad loans.

Most public sector ...


Read the full text moneycontrol