New Delhi: The government plans to increase capital infusion into some state-run banks to 1.06 trillion ($15.13 billion) in the current fiscal, a finance ministry source said on Thursday. The official was speaking after the government sought parliamentary approval for 41,000 crore of new funds. Earlier this year it had been granted approval for 65,000 crore.

In 2017, the government had announced a plan for an infusion of 2.11 trillion ($30.06 billion) in 20 state banks by March 2019 to meet global regulatory requirements.

That included about 58,000 crore to be raised by the banks themselves through financial markets but they have fallen well short of the target, forcing the government to come up with more money.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed

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