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RBI Governor Urjit Patel says state bank recap to be supplemented by reforms

Reuters  |  MUMBAI 

By Devidutta TripathyMUMBAI (Reuters) - Stronger state-run banks will get priority in India's more than $32 billion plan to recapitalise the lenders, Reserve Bank of India (RBI) governor Urjit Patel said on Thursday, adding the programme will accompany broader reforms.Twenty-one lenders, majority owned by the government, account for more than two thirds of the nation's banking assets. The lenders also account for the bulk of the record $147 billion soured assets in the sector after years of profligate lending, and are a major factor choking new lending.In October, the government outlined a ...

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First Published: Wed, December 06 2017. 18:42 IST