Rs 11,200 Crores Provided for Capital Infusion in the Public Sector Banks

An amount of Rs 11,200 crore has been provided for capital infusion in Public Sector Banks(PSB’s)in the Interim Budget 2014-15. The Union Finance Minister Mr. P Chidambaram made this announcement while presenting the Interim Budget in the Parliament today.

The Finance Minister informed that the Public Sector Banks have opened 5207 branches so far and nearing the goal of installing an ATM at every branch. Mr P. Chidambaram said that bankers have assured that they will be able to contain the NPA’s, recover more loans and build healthier balance sheets as the economy turns.