Indian banking shares soared on Wednesday, sending indexes to record highs after the cabinet approved a $32.4 billion plan to recapitalise its state banks over the next two years, although uncertainty remains about how the injections will be structured. The gains come after India's cabinet late on Tuesday cleared a plan to inject Rs 2.11 lakh crore ($32.4 billion) into state-run lenders over the next two years. With the plan, Prime Minister Narendra Modi is bidding to tackle a major drag on the economy that has frustrated his attempts to boost growth. Investors welcomed ...
Govt's $32 bn bank recapitalisation plan lifts shares, raises questions
As Modi govt is bidding to tackle a major drag on the economy that has frustrated his attempts to boost growth