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RBI working closely with government on bank recapitalisation plan

Reuters  |  MUMBAI 

(Reuters) - The Reserve of (RBI) is working very closely with the on a $32.43 billion recapitalisation plan it had outlined in October to deal with huge bad loans at state-run lenders.

RBI Governor Urjit Patel said on Wednesday that the RBI was liaising closely with the on the share of the recapitalisation each would receive.

Patel, speaking at a conference after the RBI kept its policy rate unchanged at a more than seven-year low of 6.00 percent, stressed that the recapitalisation would be accompanied with a reform package to ensure the problems do not recur.

(Reporting by Suvashree Choudhury and Devidutta Tripathy; Editing by Kim Coghill)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, December 06 2017. 15:18 IST