Indian state-owned banks may need more capital for Basel III

[MUMBAI] The capital needed by India's state-owned banks to fulfil Basel III requirements could be higher than the 2.4 trillion rupees (US$38.73 billion) estimated earlier, Reserve Bank of India Deputy Governor SS Mundra told a TV news channel on Thursday.

Mr Mundra added it was also not the right time to restrict capital infusion from the government to just a few state-owned banks based on their performance, according to an interview carried by CNBC TV18.

REUTERS