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Home News News and Press Release Month 2 2009 2009 (2) This

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Infusion of capital by the Government in UCO, Vijaya Bank and Central Bank of India

12-2-2009

Contents

The Government have announced their intention to recapitalize Public Sector Banks to enable them to maintain comfortable level of CRAR for supporting the credit requirement of the productive sectors of the economy. The Cabinet has, as a part of the on-going process, approved the infusion of capital into Central Bank of India (Rs. 1400 crore), UCO Bank (Rs. 1200 crore) and Vijaya Bank (Rs. 1200 crore). The Government will be subscribing to the Tier-I innovative capital instruments which banks will float in two branches. The first tranche in 2008-09 is expected to be of the order of Rs.1650 crore.

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