Current Affairs - Banking - Discussion

The Union Government announced 88,139 crore rupees capital infusion in 20 public sector banks, PSBs, during the current fiscal ending 31st March to boost lending and revive growth. IDBI Bank will get the most- Rs10,610 crore followed by State Bank of India 8,800 crore rupees. The 20 banks that will receive the capital infusion during this phase include Bank of India, UCO Bank, and Punjab National Bank. In October last year, the government had announced over two lakh crore rupees bank recapitalization plan spread over spread over two financial years 2017-18 and 2018-19.