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State-run lenders may need more capital, says RBI deputy governor

S S Mundra said there was no specific timeline set to identify additional loan defaulters

Reuters  |  New Delhi 

RBI Deputy Governer S S Mundra
RBI Deputy Governer S S Mundra

Reserve of (RBI) Deputy Governor S S Mundra said on Friday state-run lenders may need more capital beyond the budgeted total allocation of Rs 70,000 crore ($10.84 billion) in the four financial years through March 2019.

Mundra, addressing reporters in the sidelines of a banking event in New Delhi, also said there was no specific timeline set by the central to identify additional loan defaulters on which bankers would need to start bankruptcy proceedings.

The RBI this week had identified 12 of the largest loan defaulters and said creditors must pursue bankruptcy proceedings against them.

Credit rating agencies have said will ultimately need to inject more capital into state-run lenders, which hold the bulk of troubled loans in India, to make a dent in reducing the country's $150 billion in stressed debt.

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State-run lenders may need more capital, says RBI deputy governor

S S Mundra said there was no specific timeline set to identify additional loan defaulters

S S Mundra said there was no specific timeline set to identify additional loan defaulters

Reserve of (RBI) Deputy Governor S S Mundra said on Friday state-run lenders may need more capital beyond the budgeted total allocation of Rs 70,000 crore ($10.84 billion) in the four financial years through March 2019.

Mundra, addressing reporters in the sidelines of a banking event in New Delhi, also said there was no specific timeline set by the central to identify additional loan defaulters on which bankers would need to start bankruptcy proceedings.

The RBI this week had identified 12 of the largest loan defaulters and said creditors must pursue bankruptcy proceedings against them.

Credit rating agencies have said will ultimately need to inject more capital into state-run lenders, which hold the bulk of troubled loans in India, to make a dent in reducing the country's $150 billion in stressed debt.

image
Business Standard
177 22

State-run lenders may need more capital, says RBI deputy governor

S S Mundra said there was no specific timeline set to identify additional loan defaulters

Reserve of (RBI) Deputy Governor S S Mundra said on Friday state-run lenders may need more capital beyond the budgeted total allocation of Rs 70,000 crore ($10.84 billion) in the four financial years through March 2019.

Mundra, addressing reporters in the sidelines of a banking event in New Delhi, also said there was no specific timeline set by the central to identify additional loan defaulters on which bankers would need to start bankruptcy proceedings.

The RBI this week had identified 12 of the largest loan defaulters and said creditors must pursue bankruptcy proceedings against them.

Credit rating agencies have said will ultimately need to inject more capital into state-run lenders, which hold the bulk of troubled loans in India, to make a dent in reducing the country's $150 billion in stressed debt.

image
Business Standard
177 22