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Govt allows 5 PSU banks to raise Rs 950 cr from market

Press Trust of India  |  New Delhi 

The has permitted five public sector banks to raise about Rs 950 crore from markets, was informed today.

"has allowed five banks-- Bank, of India, United of India, of and UCO Bank-- to raise Rs 949.27 crore from markets via preferential shares," Minister of State for Santosh Kumar Gangwar said in written reply to the


Replying to another question, Gangwar said that total accounts under Pradhan Mantri (PMJDY) in the country were 27.83 crore as on March 1.

"The balance of in PMJDY accounts as on November 9, 2016 was Rs 45,636.60 crore and as on January 4 was Rs 70,070.79 crore," he said.

accounts which fulfil Know Your Customer requirements may be converted into savings accounts at the request of the account holders, and such conversion is not linked to deposit of more than Rs 50,000, he said.

In a separate reply Gangwar said, the number of customers who have opened e-insurance account with four insurance repositories as on March 7 is 9.70 lakh.

The Insurance and Regulatory Development Authority of has permitted crediting of electronic insurance policies to the electronic insurance accounts and not the funds, he said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 15 2017. 19:14 IST
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