India's government sought parliamentary approval to inject 200 billion rupees ($2.72 billion) in state-run banks in the current fiscal year, to help lenders mitigate the expected surge in bad loans due to the pandemic.
An India Rupee note is seen in this illustration photo June 1, 2017. REUTERS/Thomas White/Illustration
In April, Reuters reported that New Delhi had assured state banks that it is ready to provide capital support as the coronavirus pandemic may lead to a surge in bad loans as economic growth slows.
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