Government will infuse capital into banks: Chidambaram
Finance Minister P. Chidambaram Thursday said most public sector banks required infusion of capital and the government would take a decision on this in a couple of weeks.
After meeting heads of public sector banks and financial institutions here, Chidambaram said the top three banks which required immediate infusion of capital were the Indian Overseas Bank, Central Bank of India and Bank of Maharashtra.
"We have a budgetary provision and will allocate the capital to the banks," he said at a news conference.
In the 2012-13 budget announced in March, the government has made a provision of Rs.15,000 crore for capital infusion in public sector banks.