New Delhi -°C
Today in New Delhi, India

Aug 24, 2019-Saturday
-°C

Humidity
-

Wind
-

Select city

Metro cities - Delhi, Mumbai, Chennai, Kolkata

Other cities - Noida, Gurgaon, Bengaluru, Hyderabad, Bhopal , Chandigarh , Dehradun, Indore, Jaipur, Lucknow, Patna, Ranchi

Saturday, Aug 24, 2019

Bad loans and stressed assets in banks estimated at Rs 10 trillion

Finance minister Arun Jaitley said the recapitalisation of state banks would be followed by a series of reforms.

business Updated: Oct 25, 2017 13:17 IST
Reuters
Reuters
Reuters, New Delhi
Chief Economic Advisor Arvind Subramanian
Chief Economic Advisor Arvind Subramanian (PTI Photo)
         

Bad loans and stressed assets in Indian banks are estimated at Rs 10 trillion ($153.49 billion), Chief Economic Adviser Arvind Subramanian said on Wednesday.

India announced on Tuesday a Rs 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.

First Published: Oct 25, 2017 13:17 IST

more from business