The Center has breached new capital of ₹ 14,500 crore in four public sector lenders to improve its financial health. Lenders said they received funds from the Center on Wednesday as part of the central government’s investment in the preferential allocation of equity shares from FY21. On Wednesday, Central Bank of India received ₹ 4,800 crore, IOB ₹ 4,100 crore, Bank of India received ₹ 3,000 crore and UCO Bank ₹ 2,600 crore. As on date, the Center holds 95.84% in IOB, 94.44% in UCO Bank, 89.10% in Bank of India and 89.78% in Central Bank of India and the rest is held by the public. Except for Bank of India, the other three PSBs are under the RBI’s prompt corrective action framework.
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