Banks recap, ARC for stressed assets among steps for financial sector
By IANS |
Published on
Mon, Feb 1 2021 13:18 IST |
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New Delhi, Feb 1 : The financial sector has seen several announcements in the Union Budget including banks recapitalisation and a ARC for stressed assets.
Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research said that the budget has made a few important announcements in financial sector reforms. It has permitted 74 per cent FDI in the insurance sector which is expected to lead to higher investments and consolidation in the sector.