Government infuses Rs 14,500 crore into four PSBs

The government has infused ₹14,500 crore, mainly into banks that are under the RBI's prompt corrective action framework 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.

Of the total infusion, ₹11,500 crore has gone to these three banks while the remaining ₹3,000 crore has been infused into Bank of India.