India cenbank working closely with gov’t on bank recapitalisation plan

Thursday, 7 December 2017 00:00 - - {{hitsCtrl.values.hits}}

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

India’s central bank Governor Urjit Patel said on Wednesday that the RBI was liaising closely with the government on the share of the recapitalisation each bank would receive. Patel, speaking at a news conference after the RBI kept its policy rate unchanged at a more than seven-year low of 6%, stressed that the recapitalisation would be accompanied with a reform package to ensure the problems do not recur.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.