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RBI move to boost bank's lending capacity up to Rs 3 trn, say sources

The RBI agreed to extend a deadline for lenders to further lift capital conservation buffers, by a year to March 31, 2020, at its board meeting on Monday

Reuters  |  MUMBAI 

The Reserve Bank of India (RBI) estimates that Indian banks will have the capacity to lend an extra 2.5 trillion rupees to 3.0 trillion rupees ($35 billion to $42 billion) over the next year after it decided to relax a deadline for lenders to boost capital ratios, two sources aware of discussions on the matter said on Tuesday. Under pressure from Prime Minister Narendra Modi's government to spur lending ahead of elections, the RBI agreed at its board meeting on Monday to extend a deadline for lenders to further lift capital conservation buffers by a year to March 31. The ...

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First Published: Tue, November 20 2018. 15:12 IST
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