June 8, 2018 / 11:59 AM / 4 months ago

India's finance minister says govt committed to support all state banks

MUMBAI, June 8 (Reuters) - India’s interim finance minister said on Friday that the government was committed to support all state-run banks and strengthen their operations, after several lenders reported a jump in net losses earlier this month.

“The government stands committed to support all 21 Public sector banks,” Piyush Goyal told reporters after a meeting with bank chiefs.

Indian banks, already burdened by a near-record 9.5 trillion rupees ($141 billion) of soured loans as of last year, reported a further rise in bad loans in the March quarter after the central bank withdrew half a dozen loan-restructuring schemes and tightened some rules in February. ($1 = 67.5000 Indian rupees) (Reporting by Abhirup Roy; Writing by Manoj Kumar; Editing by Alex Richardson)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below