(1) The Government, in July2016, announced to release Rs22,915 crore to recapitalize 13public sector banks. The sumis about 92% of the budgetedprovision of Rs 25,000 crore.The highest sum of Rs 7,575crore was released for SBI, followedby Rs 3,101 crore for IndianOverseas Bank and Rs2,816 crore for Punjab NationalBank.