Government to infuse Rs.6990 crore to 9 PSB's

The Government will soon infuse Rs.6990 crore to following 9 Public Sector Undertaking Banks.

State Bank of India Rs.2970 crore

Bank of Baroda Rs.1260 crore

Punjab National Bank Rs.870 crore

Canara Bank Rs.570 crore

Syndicate Bank Rs.460 crore

Allahabad Bank Rs.320 crore

Indian Bank Rs.280 crore

Dena Bank Rs.140 crore

Andhra Bank Rs.120 crore

This is first time that the Government is using efficiency parameter to distribute the capital. The parameter used are 

a) Weighted Average Return on Asset for all PSB's for the last three years will be calculated and those above the average has been considered.

b) Return on equity for last financial year will be calculated and those better than average have been considered.

This year the Government has allocated Rs.11600 crore for capital infusion in PSB's