Recently the Central Government infused a recapitalization fund of Rs 14,500 in 4 state-owned lenders. What amount of capital infusion was announced by the government for banks in fiscal 2020-21?
Answer with explanationAnswer: Option A
The Central Government has announced to infuse Rs 14,500 crore in four state-owned lenders namely Central Bank of India, Indian Overseas Bank, Bank of India and UCO Bank in 2020-21, by issuing non-interest bearing bonds to these banks. This infusion will complete the government’s total capital infusion of Rs 20,000 crore in public sector banks for the current financial year 2020-21
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