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Bad loans and stressed assets in banks estimated at $153.5 billionUday Kotak's fund says bank boost to help resolve loans

The head of a credit fund under Indian billionaire Uday Kotak’s financial group says the government’s pledge of capital for beleaguered state banks could make it easier for distressed funds to buy loans. 

The government said last week that it will inject 2.11 trillion rupees ($32 billion) of capital into state-controlled lenders over two years, as it seeks to revive growth in Asia’s third-largest economy.

Source: The Economic Time


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