Govt announces capital infusion in 5 PSB’s

Govt announces capital infusion in 5 PSB’s
The government has announced an infusion of Rs 11,336 crore in five public sector banks as part of its Indradhanush scheme. The five banks are Punjab National Bank, Indian Overseas Bank, Andhra Bank, Corporation Bank & Allahabad Bank. Indradhanush is a scheme for recapitalization of PSBs, with a view to make sure they remain solvent & comply with the global capital adequacy norms, Basel-III.