India could sell stakes in state-owned companies to fund a bank recapitalisation and revive growth without straying from the path of fiscal consolidation, the former head of the Reserve Bank of India (RBI) said on Thursday. Stronger, better-managed banks should be given the capital they need to absorb losses as a matter of high priority, Raghuram Rajan, who left the RBI last year, told Reuters in an interview. More than $150 billion of bad debt is crimping credit growth in Asia's third-largest economy, and the government and the RBI have been trying to ease the burden on ...
Sell stakes in public sector cos to resolve NPA problem: Raghuram Rajan
More than $150 billion of bad debt is crimping credit growth in Asia's third-largest economy