Bank funding for bad loans expected to worsen India deficit
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Mumbai
INDIA is preparing to pump in a higher-than-anticipated capital sum into poorly performing state banks, government sources said, a move that could see New Delhi infuse as much as US$34 billion additionally and make it harder to hit planned deficit targets.
Prime Minister Narendra Modi's government in August pledged to put in 700 billion rupees (S$14.4 billion) into state-run banks through four years to March 2019 as part of a broader banking reforms programme. It had then said the lenders would raise another 1.1 trillion rupees from the financial markets.
Share with us your feedback on BT's products and services
TRENDING NOW
‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival
Near sell-out launches in March boost developer sales to 1,300 units after four slow months
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025
