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Govt may bring in additional funds to PSU banks

The central government may being in around Rs 12,000 crore into some public sector banks, which are heavily impacted by bad debts, according to finance ministry sources quoted in news reports. This will form the first round of such funding so that these banks can function in line with the economic revival agenda of the government. This funding will be in addition to the Rs 7,940 crore allocated in the budget for capitalization of the public sector banks. Even banks, which do not meet the efficiency criteria fixed by the government earlier for eligibilty under its financing norms, will also get funded by this cash infusion, according to the reports. The finance ministry has sought details from all public sector banks on capital infused in the last decade and the dividends they have given to the government.

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