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India to inject $2.27 bln in state-run banks in 2013/14
October 23, 2013 / 10:31 AM / 4 years ago

India to inject $2.27 bln in state-run banks in 2013/14

NEW DELHI, Oct 23 (Reuters) - The Indian government will inject a budgeted 140 billion rupees ($2.27 billion) by end-March 2014 in 20 state-run banks, the finance ministry said in a statement on Wednesday, to keep them well capitalised.

Of this, State Bank of India will get 20 billion rupees, while IDBI and Central Bank of India will get 18 billion rupees each.

The government will inject 10 billion rupees in the fiscal year that ends in March in Bank of India, the statement added. ($1 = 61.6600 Indian rupees) (Reporting by Rajesh Kumar Singh)

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