Posted inIndiaSouth Asia

India to pump US$1.65 billion into five state-owned banks

The shares of five state-owned banks in India reacted positively during early trade on Wednesday to the government’s proposal to infuse funds to help them meet capital regulatory requirements. The government earlier decided to infuse 113 billion rupees (US$1.65 billion) into these banks, including the scam-tainted Punjab National Bank (PNB). The government is likely to […]