Stocks of public sector banks witnessed a mixed trend at 14:42 IST on BSE after the government allocated Rs 22915 crore to 13 public sector banks for their capitalization needs during the current financial year.
Meanwhile, the S&P BSE Sensex was down 54.89 points or 0.2% at 27,691.77.
The government today, 19 July 2016, allocated Rs 22915 crore to 13 public sector banks (PSU banks) for the current financial year (FY 2017), to provide liquidity support for lending operations as also to enable banks to raise funds from the market. The remaining amount, to be released later is linked to performance, with particular reference to greater efficiency, growth of both credit and deposits and reduction in the cost of operations, according to a statement released by the government during market hours today, 19 July 2016.
Allahabad Bank was up 0.13% at Rs 75.90. The bank was allocated Rs 44 crore.
Canara Bank was up 3.06% at Rs 254.65. The bank was allocated Rs 997 crore.
Corporation Bank was up 1.18% at Rs 42.80. The bank was allocated Rs 677 crore.
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Dena Bank was up 0.63% at Rs 40.15. The bank was allocated Rs 594 crore.
Indian Overseas Bank was up 0.9% at Rs 28. The bank was allocated Rs 3101 crore.
State Bank of India was up 0.26% at Rs 229.20. The bank was allocated Rs 7575 crore.
Syndicate Bank was up 0.26% at Rs 78.60. The bank was allocated Rs 1034 crore.
UCO Bank was up 0.23% at Rs 43.95. The bank was allocated Rs 1033 crore.
Central Bank of India was down 1.67% at Rs 100. The bank was allocated Rs 1729 crore.
Bank of India was down 0.09% at Rs 110.60. The bank was allocated Rs 1784 crore.
Punjab National Bank was down 1.25% at Rs 130.85. The bank was allocated Rs 2816 crore.
Union Bank of India was down 1.08% at Rs 136.95. The bank was allocated Rs 721 crore.
United Bank of India was down 0.43% at Rs 23.35. The bank was allocated Rs 810 crore.
Among other banks, Indian Bank (down 2.86% at Rs 154.35) and Bank of Baroda (down 0.57% at Rs 158.20) edged lower. IDBI Bank (up 0.69% at Rs 73.45) edged higher. No allocation of capital was made to these three state-run banks.
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