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This are indicative figures and the actual capital infusion may vary depending on banks assessment, Sitharaman told reporters here.Executive directors strength in larger banks has been raised to four for better functional focus and thrust to technology, she said."This is going to provide lot of strength to the economy because these mergers will bring synergies in operation.Boards have also been given the mandate to reduce or rationalise committees, she said, adding that Management Committee of Board (MCB) loan sanction thresholds has been enhanced by up to 100 per cent to enable focussed attention to higher value loan proposals.

Besides, Bank of Baroda will get Rs 7,000 crore, Indian Overseas Bank Rs 3,800 crore and Central Bank of India Rs 3,300 crore. New Delhi: The government on Friday said it will infuse about Rs 55,000 crore in public sector banks to enhance their capital base so that they can accelerate lending in a bid to bolster growth. As a result, Punjab National Bank will get Rs 16,000 crore, Union Bank of India Rs 11,700 crore, Canara Bank Rs 6,500 crore and Indian Bank Rs 2,500 crore. It could be even faster.".To make management accountable, a board committee of nationalised banks will appraise performance of GM and above ranks, including managing director, and also recruit Chief Risk Officer at market-linked compensation to attract wholesale machine screw anchors best talent, she said.Asked about any plan for giving relief to home buyers, Finance Secretary Rajiv Kumar said the Ministry of Housing and Urban Affairs is looking at it and soon some measures will be announced.Union Bank of India MD Rajkiran Rai said, "We dont forsee any problem with regard to merger. The amount of capital provided to the bank will provide an opportunity to grow faster.

Bank of Baroda will get Rs 7,000 crore, Indian Overseas Bank Rs 3,800 crore and Central Bank of India Rs 3,300 crore.Giving details of governance reforms in the public sector banks, she said these will bring transparency and strengthen bank boards.To enable succession planning, she said boards will decide a system of individual development plans for all senior executive positions.All the anchor banks in the consolidation process will get capital support.The finance minister also said that the merger would not result in any retrenchment but rather improve the benefit of the employees.This was the second set of measures announced by Finance Minister Nirmala Sitharaman to prop up the economy and at least one more is expected next week. Similar timeline would be there as was in the case of BoB.Canara Bank Managing Director R A Shankara Narayanan said the merger will add value and it will become the fourth largest public-sector bank. All the anchor banks in the consolidation process will get capital support.

The decision will be deliberated by the board," he said.Commenting on the merger decision, PNB Managing Director Sunil Mehta said this is a very welcome measure taken by the government.The announcement formed part of the governments mega plan to merge 10 public sector banks into four with a view to creating fewer and stronger global-sized lenders with robust balance sheets.She also said flexibility has been given to boards of large public sector banks to enhance sitting fees of non-official directors (NODs)."SBI Chairman Rajnish Kumar said, "Todays announcements also underline the fact that the government recognizes the importance of a robust banking system in achieving the goal of USD 5 trillion economy as bigger banks will be better armed to meet the credit needs of a fast growing economy like India