10 PSU banks submit turnaround plans

As many as 10 state-owned banks, including Bank of India, IDBI Bank and Union Bank, have submitted their turnaround plans to the government, which is a pre-requisite for getting fund infusion, Parliament was informed on Tuesday.

Allahabad Bank, Andhra Bank, Central Bank of India, Dena Bank, Uco Bank, United Bank of India and Bank of Maharashtra are the other public sector lenders who have submitted their plans.

Indian Overseas Bank is currently in the process of preparing its turnaround plan, said Minister of State for Finance Santosh Kumar Gangwar in a written reply in the Rajya Sabha.

“It