World Economy

Higher Cash Infusion Needed

Higher Cash Infusion NeededHigher Cash Infusion Needed

India’s top state-run banks will need more than double the capital the government plans to inject into them due to their weak asset quality and levels of profitability, Moody’s Investors Service said on Friday, Reuters reported. Eleven lenders that Moody’s rates, including State Bank of India, Bank of Baroda and Bank of India, will need about 1.2 trillion rupees ($18 billion) in capital through 2020, the ratings agency said, after analyzing their results for the fiscal year to March. That compares with government plans to inject 450 billion rupees into state banks over the three financial years to March 2019.