Fitch sees 881b-rupee bank bailout easing India downgrade woes
Outlook on Indian banks may be revised this year to stable from negative once govt begins infusing cash
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Mumbai
PRESSURE on the ratings of India's state-owned banks is set to ease after the government unveiled plans to inject 881 billion rupees (S$18 billion) of fresh capital to help the lenders meet looming Basel norms without hurting a nascent recovery in credit growth.
"The large recapitalisation is credit positive and will stem downward pressure on viability ratings, which have been cut several times over the last three to four years," Jobin Jacob, a Mumbai-based associate director at Fitch, said by telephone.
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