Government announces Rs 14,500 crore capital infusion in 4 PSBs

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The Central Government has announced to infuse Rs 14,500 crore in four state-owned lenders namely Central Bank of India, Indian Overseas Bank, Bank of India and UCO Bank in 2020-21, by issuing non-interest bearing bonds to these banks.
The Recapitalisation bonds will be issued with six different maturities, and the special securities would be “at par” for the amount as per the application made by the eligible banks.
This infusion will complete the government’s total capital infusion of Rs 20,000 crore in public sector banks for the current financial year 2020-21.
Earlier in December 2020, it infused Rs 5,500 crore in Punjab and Sind Bank.