<h1>Government Allocates Rs. 22,915 Crore for Public Sector Banks' Capitalization in 2016-17 to Boost Lending and Growth.</h1> The government has allocated Rs. 22,915 crore for the capitalization of Public Sector Banks for the fiscal year 2016-17, following the Indradhanush initiative and Union Budget announcements. This capital infusion is based on the banks' credit growth projections and potential for growth. Currently, 75% of the funds are being released to support lending operations and market fundraising, with the remainder contingent on performance improvements. The allocation includes Rs. 7,575 crore for the State Bank of India, Rs. 3,101 crore for Indian Overseas Bank, and Rs. 2,816 crore for Punjab National Bank, among others.