State-run banks to tap markets "very soon" -govt official

NEW DELHI (Reuters) - State-run banks will "very soon" start raising funds from markets, Financial Services Secretary G.S. Sandhu said on Tuesday, as part of government's efforts to infuse capital into banks.

Indian banks need 2.4 trillion rupees ($38.92 billion) of capital infusion by 2018 to meet the Basel III norms.

(Reporting by Rajesh Kumar Singh; editing by Malini Menon)