Wednesday, 15 February 2017

Fitch India affiliate sees banks' core capital needs at $13.6 billion by March 2019

India's banks will need 910 billion rupees ($13.6 billion) in Tier-1 capital until March 2019 to grow at a bare minimum pace of 8 to 9 percent on average, India Ratings and Research said on Wednesday. Of the total capital needs, 500 billion rupees will have to come from additional Tier-1 bonds, the rating agency, an affiliate of Fitch, said. The Indian government, which owns majority in nearly two dozens lenders, has plans to inject 200 billion rupees into those banks over the next two financial years beginning April.

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