**[investwise]** GOI Infuses Rs 6000 crore into PSU Banks

 

The government on Saturday approved infusing Rs 6,211 crore into five public sector banks, a move which will help in lending an additional Rs 77,637 crore to various sectors of the economy. The banks which will get capital infusion include Union Bank of India, Bank of Maharashtra, IDBI Bank, UCO Bank and Central Bank India. "The five banks would be able to leverage this capital and lend an additional approximate amount of Rs 77,637 crore to the productive sectors of the economy giving a push to all round economic activity besides paying additional dividends and tax revenues to the government," an official release said. According to the release, IDBI Bank will get Rs 3,119 crore, followed by Central Bank of India Rs 2,016 crore, Bank of Maharashtra Rs 590 crore, UCO Bank Rs 375 crore and Union Bank of India Rs 111 crore. With today's decision, the government's total capital support during the current financial year will go up to Rs 8,911 crore, the highest in the recent times, it said.  Safe Harbor Statement: Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.   Nothing in this article is, or should be construed as, investment advice.

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