The government has announced an infusion of Rs 11,336 crore in five public sector banks as part of its Indradhanush scheme, which was unveiled in 2015. This is the last tranche of infusion under the scheme.
In October last year, the government had announced a Rs 2.11 lakh crore recapitalisation plan, of which Rs 1.35 lakh crore was to be raised through recapitalisation bonds, while banks were required to raise the balance through share sales.
The two-year recapitalisation programme was aimed at helping state-run banks to deal with rising bad debts and spur credit growth.
First Published on Jul 17, 2018 06:29 pm
Courtesy: Moneycontrol News