New Delhi, Dec 20 (IANS) The government on Wednesday informed the Lok Sabha that it had so far infused a capital of Rs 51,858 crore in Public Sector Banks (PSBs) under its 'Indradhanush Plan' since 2015-16.
"The government allocated Rs 22,915 crore in 13 PSBs during FY 2016-17 under the first tranche of capital infusion, of which Rs 16,414 (75 per cent) was infused upfront and the remaining was to be infused based on the performance of the respective banks," it said in a written reply to a question in the Lok Sabha.
The data shared by the government along with the reply showed that out of the total Rs 51,858 crore, Rs 25,000 crore was infused in 2015-16, Rs 24,997 crore in 2016-17 and Rs 1,861 crore in 2017-18.
"The government proposed to make available Rs 70,000 crore out of its budgetary allocations for infusing capital in the PSBs. Funds of Rs 25,000 crore each in the financial years 2015-16 and 2016-17, and Rs 10,000 crore each in financial years 2017-18 and 2018-19, were envisaged," it said.
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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