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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

PSBs. (Illustration by Ajay Mohanty)
Illustration by Ajay Mohanty

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 ...