Fitch estimates Indian lenders need more than $200 billion
Introduction of composite cap concept can help in attracting portfolio investments; Representational image (Photo: PTI)
New Delhi: State-run banks are currently "sufficiently" capitalised, but it would be better if the government injects them with more capital this fiscal year, Reserve Bank of India Deputy Governor R. Gandhi said on Friday. Gandhi said the banks would need more capital to meet the global Basel III regulatory requirements.
New Delhi has budgeted $1.25 billion to infuse into state lenders in the year ending March 2016, but Finance Secretary Rajiv Mehrishi this week said the government plans to more than double the amount to $3 billion.
Ratings agency Fitch estimates Indian lenders need more than $200 billion to prepare for the full implementation of the new Basel requirements in the next four years.
( Source : reuters )
Next Story
