Government of India to Infuse Rs 8,655 crore into 3 Public Sector Banks

The government has approved releasing Rs.8,655 crore to three public sector lenders Allahabad Bank(Rs.2153 Cr), Indian Overseas Bank(Rs.4360 Cr) and UCO Bank(Rs.2142 Cr).
In the Union Budget of 2019-20 Finance Minister Nirmala Sitharaman announced capital infusion of Rs.70000 Cr.
All these three banks are currently under the Reserve Bank of India’s prompt corrective action (PCA) framework.
Allahabad Bank was established in 1865.
Headquarter - Kolkata, West Bengal
Indian Overseas Bank was established in 1937.
Headquarter - Chennai, Tamil Nadu
MD & CEO - Karnam Sekar
UCO Bank was founded in 1943.
Headquarter - Kolkata
MD & CEO - Atul Kumar Goel