State-run United Bank of India today said the government will infuse up to Rs 810 crore capital into the bank in the current financial year.
Finance Ministry has decided to allocate Rs 810 crore to the Bank by way of preferential allotment of equity in favour of the bank, United Bank of India said in a filing to BSE.
"75 per cent of capital i.E Rs 608 crore has been marked for infusion with immediate effect while the remaining 25 per cent will be infused based on bank's performance against the prescribed activities by the end of 2016 or earlier," the filing said.
For current fiscal's capital infusion commitment of Rs 25,000 crore in public sector banks, government released Rs 22,915 crore yesterday for 13 PSU banks including SBI, PNB, Canara Bank, Bank of India and Central Bank of India.
Of the Rs 22,915 crore, SBI gets Rs 7,575 crore, PNB 2,816 crore, Bank of India Rs 1,784 crore, and Central Bank of India Rs 1,729 crore.
