RBI Governor Urjit Patel today said the 2(point)11 lakh crore rupee bank recapitalisation plan announced by the government is a 'monumental step forward' in safeguarding India's economic future. He said a comprehensive policy would be put in place to address the challenges faced by the sector. Welcoming the government's decision, Patel in a statementsaid that a well-capitalised banking system is a pre-requisitefor stable economic growth. Outlining the 'desirable features' of the recapitalisation package, Patel said the recapitalisationbonds will front-load capital injections while staggering thefiscal implications over a period of time. Patel said these bonds would involve participation of private shareholders of PSU banks by requiring that parts of the capital needs be met by market funding.