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Rs 28,629 crore for 7 banks

Business National News

Rs 28,629 crore for 7 banks

admin1 January 4, 2019

The government will issue six special bonds to seven public sector banks as part of the capital reshuffle. The total value of these bonds is Rs. 28629 crores and they will be over 10 to 15 years. The government has issued a notification that these Bonds are not applicable to statutory Ratio (SLR) regulations. Bank of India, Bank of Maharashtra, Central Bank of India, Oriental Bank of Commerce, Syndicate Bank, UCO Bank and United Bank are among the seven PSUs that issued bonds. The largest bank of India would be allotted Rs 10086 crore bonds. The next Oriental Bank of Commerce will be issued up to Rs 5500 crore. The government has stated that the date of issuance of special securities will be available to these banks for any day. In December 2012, the central government had asked Parliament approval to give Rs 41,000 crore in addition to the Rs.2.11 lakh crore capital announced in October 2017.

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