PSU Banks Get Nod From GoI To Raise Rs 949 Crore From Market

Five public sector banks have been permitted by the government to raise Rs 949.27 crore from the markets.

Allahabad Bank, United Bank, Bank of India, UCO Bank and Central Bank are the banks which are to raise Rs 949.27 crore via preferential shares from markets, said the Minister of State Finance, Santosh Kumar Gangwar, in a written reply to the Rajya Sabha.

Gangwar also in the reply said that the total accounts under the Pradhan Mantri Jan Dhan Yojana (PMJDY) were 27.83 crore as of March 1.

While, as of November 9, the balance of deposits in PMJDY was Rs 45,636.60 crore; and Rs 70,070.79 crore as of January 4.

The Minister also added that Jan Dhan accounts can be concerted into savings accounts at the request of the account holders if they fulfill Know You Customer (KYC) requirements and such converted accounts are not allowed to deposit more than Rs 50,000.

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