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India may need to pump Rs 1.5 trillion into state-owned banks to revive them

Shortpedia

Content Team

According to some government sources, India may need to inject up to 1.5 trillion rupees ($19.81 billion) into its state-owned lenders as their pile of soured assets is expected to double during the coronavirus pandemic. The government initially considered a budget of around 250 billion rupees for bank recapitalisations but that has risen significantly. A final decision could be taken in the second half of the fiscal year.