BANKING AFFAIRS

Detailed explanation-1: -Mumbai: State-run Bank of India, the country’s sixth biggest lender by assets, said on Saturday it received 22.57 billion rupees ($353.6 million) from the government, joining other lenders in which the government is injecting funds to shore up their capital base.

Detailed explanation-2: -Capital infusion. Often refers to the cross-subsidization of divisions within a firm. When one division is not doing well, it might benefit from an infusion of new funds from the more successful divisions.

Detailed explanation-3: -As part of the financial sector liberalisation, all credit related matters of banks including charging of interest have been deregulated by RBI and are governed by the banks’ own lending policies.