Rs 70, 000 crore plan for revamping PSBs

Under the Indradhanush plan for revamping Public Sector Banks (PSBs) Government will give Rs. 70,000 crore over a period of four financial years. Government has recently announced decision to further recapitalise PSBs to the tune of Rs. 2,11,000 crore, through recapitalisation bonds of Rs. 1,35,000 crore and budgetary provision of Rs. 18,139 crore over two financial years, and the balance through capital raising by banks from the market. Government has so far infused capital of Rs. 59,435 crore in PSBs under Indradhanush.