Select PSU banks gain on government's Rs 20,000 crore fund infusion plan

Finance Minister Nirmala Sitharaman had, during her Union Budget speech for 2020-21 in February, avoided going for recapitalisation of PSBs in this financial year

Shares of select public sector undertaking (PSU) banks were trading higher by up to 5 per cent on the National Stock Exchange (NSE) on Monday after the Union government sought the Parliament’s nod for infusing Rs 20,000 crore in state-owned banks.

Among individual banks, Uco Bank was up 5 per cent at Rs 13.65 on the NSE. Indian Bank, Bank of Maharashtra and Jammu & Kashmir Bank were up 2 per cent each, while Indian Overseas Bank and Bank of Baroda were up 1 per cent on the NSE.

However, State Bank of India (SBI) was down 2