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Centre to infuse 5K cr in BoB
The Bank of Baroda may get Rs 5,000 crore capital infusion from the Finance Ministry ahead of its united operations as a merged entity along with the Vijaya Bank and Dena Bank from April 1
New Delhi: The Bank of Baroda may get Rs 5,000 crore capital infusion from the Finance Ministry ahead of its united operations as a merged entity along with the Vijaya Bank and Dena Bank from April 1.
In February, the government approved Rs 48,239-crore recap bonds in 12 PSBs. The latest recap bonds broadly fall into four categories: a) equipping better-performing PCA (prompt corrective action) banks to be above regulatory PCA thresholds to help them come out of the framework (Allahabad Bank, Corporation Bank, who have already come out of the PCA);b) Non-PCA banks that are close to the red line to ensure they don't fall into PCA (Punjab National Bank, Union Bank, Syndicate Bank and Andhra Bank); c) PCA banks that have exited PCA to remain above PCA triggers (Bank of India, Bank of Maharashtra); d) And other PCA banks that need to meet minimum regulatory capital norms (Central Bank, United Bank, UCO Bank and Indian Overseas Bank).