Indian Market Outlook:
The finance ministry Arun Jaitley yesterday announced a Rs2.11 trillion bank recapitalization plan for public sector banks who are weighed down by bad loans. These banks need funds to stimulate the flow of credit.
Out of the total Rs2.11 trillion, Rs1.35 trillion will come from the sale of recapitalization bonds that Government will issue and details of the same will be provided later. The remaining Rs76,000 crore will form a part of budgetary allocation and government will also raise funds from the markets.
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