For Quick Alerts
For Daily Alerts

PSU Bank Stocks Surge on Capital Infusion Plan


Public sector banking stocks surged on Tuesday after the Finance Minister Arun Jaitley said that it will infuse capital in public sector banks in the next three to six months.

PSU Bank Stocks Surge on Capital Infusion Plan
Punjab National Bank: Quotes, News
BSE 64.90BSE Quote0.35 (0.54%)
NSE 64.90NSE Quote0.35 (0.54%)
Bank of Baroda: Quotes, News
BSE 99.85BSE Quote1.4 (-1.40%)
NSE 99.95NSE Quote1.15 (-1.15%)

Punjab National Bank was trading higher by 3.77 per cent at Rs 144, Bank of Baroda up by 1.91 per cent at Rs 149, Syndicate Bank was up by 1.34 per cent at Rs 106.

Allahabad Bank, Canara Bank, IDBI Bank, Bank of India and State Bank of India (SBI) were up 1%-2 per cent on the National Stock Exchange (NSE) at 12.50 pm IST.

Earlier, the finance minister had proposed to infuse Rs 7,940 crore funds during this year in the public sector banks.

The Indian government intends to provide USD 9 billion (about Rs 57,000 crore) to public sector banks towards recapitalisation over the next two fiscal to meet global risk norms and for growth, Finance Secretary Rajiv Mehrishi said on Monday, reports PTI.

Read more about: psu bank arun jaitley
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more