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India's record bank capital boost lauded by Fitch, Moody's

Thu, Oct 26, 2017 - 5:50 AM

2017-09-22T020158Z_1543009792_RC1901D16420_RTRMADP_3_SBI-LIFE-INS-IPO.JPG

Following the move, State Bank of India jumped as much as 25 per cent, the biggest intra-day gain in eight years.

PHOTO: REUTERS

Mumbai

INDIA'S plan to inject an unprecedented 2.11 trillion rupees (S$44 billion) into state-controlled banks will bolster their risk buffers and support the financial system, two major credit-rating companies said as the country's state-run banks surged...

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