India may form holding company for its bank stakes
State-controlled lenders have historically been less capitalised than privately owned peers
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Mumbai
INDIA is considering a demand for a holding company for the government's stakes in 27 state-owned banks, a move that may make it easier to raise capital as they struggle with the lowest profitability in at least nine years.
"We will take a decision at a later stage," Finance Secretary Hasmukh Adhia, told reporters in Pune, near Mumbai, where a two-day brainstorming session ended after officials from the government, the regulator and the banks discussed steps to improve the financial health of the lenders.
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