July 18, 2018 / 6:29 AM / a month ago

REFILE-India to inject $1.65 bln in five state banks in about a week - govt source

(Refiles to add dropped word in second paragraph)

NEW DELHI, July 18 (Reuters) - India’s government will inject a total 113.36 billion rupees ($1.65 billion) in five state-run banks, including fraud-hit Punjab National Bank , in a week or so, a senior government official told Reuters on Wednesday.

Punjab National Bank will receive 28.16 billion rupees, while Corporation Bank, Indian Overseas Bank , Andhra Bank and Allahabad Bank are the other four lenders in which the government will inject capital in the latest round, said the official who did not want to be named.

The official said capital was part of a total 2.11 trillion-rupee package that was announced last year, and would not require separate approval from parliament.

There is no demand from banks at this stage to increase the package beyond the planned sum, the official said. ($1 = 68.5500 Indian rupees) (Reporting by Manoj Kumar; Writing by Devidutta Tripathy; Editing by Sanjeev Miglani)

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