CURRENT AFFAIRS

Detailed explanation-1: -It had earmarked ₹20, 000 crore for the recapitalization of PSBs through supplementary demands for grants. The government infused ₹3, 10, 997 crore to recapitalise banks during the last five financial years - from 2016–17 to 2020–21.

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: -Centre has announced to provide capital support to weak public sector lenders like the Central Bank of India and Punjab & Sind Bank. Such banks will get a big chunk of the ₹15, 000 crore earmarked for capital infusion in state-owned banks for the current fiscal.

Detailed explanation-4: -The minimum initial capital requirement for licensing new banks should be enhanced from ₹500 crore to ₹1000 crore for universal banks, and from ₹200 crore to ₹300 crore for small finance banks.

Detailed explanation-5: -The State Bank of India (SBI) is the largest bank in India and also one of the biggest corporations in the world. State Bank of India is one of the largest employers and the most trusted bank in India.