Indian state banks meet to tackle low profitability
Modi, RBI chief and finance minister to attend brainstorming session with bank chiefs and regulators
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Mumbai
INDIA'S state-run lenders will probably be the focus of a historic two-day gathering of bank chiefs and regulators as they seek to reverse the companies' lowest profitability rates in at least nine years.
Officials led by Prime Minister Narendra Modi, Reserve Bank of India (RBI) governor Raghuram Rajan and Finance Minister Arun Jaitley were due to start the brainstorming session on Thursday with the heads of government lenders in the city of Pune, near Mumbai, which may result in policies designed to boost earnings and capital ratios, according to Reliance Securities Ltd.
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