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Capital infusion, bad bank announcement boost banking stocks
By IANS |
Published on
Fri, Feb 5 2021 21:21 IST |
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Growth chart. (File Photo: IANS). Image Source: IANS News
Mumbai, Feb 5 : The government s recapitalisation support of Rs 20,000 crore to state-run banks, announced in the budget along with the decision to form a bad bank, have been a major support for the investors having put their money in the banking shares.
A recent report by Moody s Investors Service said that the proposed asset reconstruction company (ARC), described as a bad bank in common parlance, will resolve legacy problem loans and will be credit positive for banking system.
Lending Re-boot: Bad Bank expected to absorb Rs 2 lk cr NPAs
By IANS |
Published on
Thu, Feb 4 2021 16:06 IST |
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KV Subramanian. (File Photo: IANS). Image Source: IANS News
New Delhi, Feb 4 : India s growth is set to further accelerate on the back of the path breaking plan to set up a Bad Bank , which is expected to absorb Rs 2 lakh crore worth of non-performing assets (NPA).
Accordingly, the process is expected to clean up banks books and allow them to lend more freely.
According to the Finance Ministry s Chief Economic Advisor Krishnamurthy Venkata Subramanian, the crucial reform measure in the sector will pave the way for a stronger banking sector.
To boost infra creation, the Centre will move a special legislation which will enact a public sector development finance institution (DFI) besides enabling private players to enter this niche financial segment.In a conversation with IANS, the .
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