7 PSBs may get Rs 286 billion through recapitalisation bonds by Dec-end

All banks, except Syndicate Bank, which are expected to receive capital infusion under RBI's PCA are facing certain lending restrictions

Seven public sector banks (PSBs) will receive a capital infusion of Rs 286 billion through the upcoming tranche of recapitalisation bonds by the end of this month, a government official said on Thursday.

All banks, except Syndicate Bank, which are expected to receive capital infusion, are under the Reserve Bank of India’s (RBI’s) prompt corrective action (PCA) — an early warning mechanism to restore the health of banks — and facing certain lending restrictions.

“The department of financial services has sent the bank-wise detailed breakup of recapitalisation to the department of economic affairs and the approval is expected to come before December