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Business Other News 20 Dec 2018 State banks recover ...

State banks recover USD 8.69 billion of bad loans in April-September

REUTERS
Published Dec 20, 2018, 5:46 pm IST
Updated Dec 20, 2018, 5:46 pm IST
Banks have raised 244.4 billion rupees from the market this fiscal year.
Govt would give funds to four to five banks under a prompt corrective action plan after considering their financial results. (Photo: ANI)
 Govt would give funds to four to five banks under a prompt corrective action plan after considering their financial results. (Photo: ANI)

New Delhi: Indian state-run banks recovered 607.3 billion rupees ($8.69 billion) of outstanding bad loans in the April-September period, which a finance ministry official said on Thursday was a “record” haul.

Financial Services Secretary Rajeev Kumar said the government would give funds to four to five banks under a prompt corrective action plan after considering their financial results.

 

He also said banks have raised 244.4 billion rupees from the market this fiscal year.

...
Location: India, Delhi, New Delhi




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