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Piyush Goyal says government committed to support all state banks

Reuters  |  MUMBAI 

(Reuters) - India's interim minister said on Friday that the government was committed to support all state-run and strengthen their operations, after several lenders reported a jump in net losses earlier this month.

"The government stands committed to support all 21 Public sector banks," told reporters after a meeting with

Indian banks, already burdened by a near-record 9.5 trillion rupees ($141 billion) of soured as of last year, reported a further rise in bad in the March quarter after the withdrew half a dozen loan-restructuring schemes and tightened some rules in February.

($1 = 67.5000 Indian rupees)

(Reporting by Abhirup Roy; Writing by Manoj Kumar; Editing by Alex Richardson)

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

First Published: Fri, June 08 2018. 17:31 IST
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