Allahabad Bank, UCO Bank, IOB get ₹8,655 cr fund infusion | Editorji
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Allahabad Bank, UCO Bank, IOB get ₹8,655 cr fund infusion

Dec 27, 2019 19:42 IST

Three loss-making PSU Banks - Allahabad Bank, Indian Overseas Bank and UCO Bank have got ₹8,655 crores fresh capital infusion from the government. The Finance Ministry has approved infusing fresh capital amounting to ₹2,153 crores in the Allahabad Bank, ₹2,142 crores in the UCO Bank and ₹4,360 crores in the Indian Overseas Bank via preferential allotment of shares. UCO Bank posted a loss of ₹892 crores, Allahabad Bank a loss of ₹2,103 crores and Indian Overseas Bank posted ₹2,254 crore loss in the September quarter.