FinMin to infuse Rs14,500 cr in banks underneath PCA quickly

New Delhi, March 12

The Finance Ministry is likely to infuse Rs 14,500 crore mainly in the banks that are under the RBI’s prompt corrective action (PCA) framework in the next few days to improve their financial health.

Indian Overseas Bank, Central Bank of India and UCO Bank are currently under this framework that puts several restrictions on them, including on lending, management compensation and directors’ fees.

The ministry has almost finalised its names of probable candidates for capital infusion, sources said.

The infusion will be made in the next few days, the sources said. — PTI

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