Govt has pledged Rs 2.11 lakh crore recapitalisation plan for state-owned banks over next two years.
Finance ministry said that the domestic investment of the private sector continued to be affected by the growing contamination of loans advanced in the past, which have now become unsustainable.
New Delhi: Bad loans and stressed assets in Indian Banks are estimated at 10 trillion rupees ($153.49 billion), India’s Chief Economic Adviser Arvind Subramanian said on Wednesday.
India announced on Tuesday a 2.11 trillion recapitalization plan for its state-owned banks over the next two years, in a bid by Prime Minister Narendra Modi to tackle a major drag on the economy that has frustrated his attempts to boost growth.
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