June 11, 2015 6:56 PM

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RBI seeks more funds for recapitalisation of banks

The Reserve Bank today said Rs 7,940 crore earmarked for recapitalisation of PSU banks in the current fiscal is not adequate and has asked Finance Ministry to increase the quantum of assistance in view of mounting bad loans and to support growth. RBI Deputy Governor S S Mundra said that they have been suggesting to the Finance Ministry from time to time that the public sector banks need more capital than what budget has indicated.

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