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The government will infuse about 1,500 crore rupees in the public sector banks during the current fiscal to enhance their financial strength. This was stated by the Finance Minister Pranab Mukheerjee at the 118th foundation day function of Punjab National Bank in New Delhi.
Speaking on the occassion. Mr Mukheerjee said that the Inidan Banking system is under constraints for some time and to improve the capital adequacy of the public sector banks, the government is going to provide around Rs 1,500 crore in 2012-13 because banks should have adequate capital to compete.
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