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Gov. to Infuse Rs 14,500 crore in 4 PSBs

Published on April 01, 2021
Current Context: The Government of India has announced to infuse Rs 14,500 crore in 4 Public Sector Banks (PSBs).
Gov. to Infuse Rs 14,500 crore in 4 PSBs
  • The 4 PSBs are: Central Bank of India, Indian Overseas Bank, Bank of India and UCO Bank.
  • The amount will be infused by issuing non-interest bearing bonds to them despite reservations raised by the RBI over the use of this instrument.
  • Rs 4800 crore will be infused in Central Bank of India, Rs 4100 crore in Indian Overseas Bank, Rs 3,000 crore in Bank of India and Rs 2,600 crore in UCO Bank.
  • These securities will be issued in six different maturities, and the special securities would be ‘at par’ for the amount as per the application made by the eligible banks.

Question: 

Q.1 In March 2021, Gov. announced to infuse Rs ___ in Central Bank of India, Indian Overseas Bank, Bank of India and UCO Bank?
a. Rs 9,500 crore
b. Rs 12,000 crore
c. Rs 10,500 crore
d. Rs 14,500 crore
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