The four lenders in which government will infuse capital include Central Bank of India, Indian Overseas Bank, Bank of India and UCO Bank.
The validity of the FTP for 2015-20 was already extended by a year through March 31, 2021 in the wake of the Covid-19 pandemic, mainly to maintain policy stability and soften the blow to exporters.
CDC’s investment in the transaction is supported by partial guarantee provided by Northern Arc. It is a milestone for CDC as it is the first transaction structured by CDC under a PBI structure, a statement by Northern Arc said.
Deposits with banks continued to grow in double digits and stood at Rs 149.56 lakh crore, up 12.12% YoY. The credit-deposit ratio was 71.74%.