India to infuse $3.4 bln in state-run banks

July 19, 2016 7:12 AM

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NEW DELHI, July 19 India will infuse 229.15 billion rupees ($3.41 billion) in 13 state-run banks in the fiscal year ending March 2017, the finance ministry said in a Twitter post on Tuesday.

New Delhi has plans to inject 700 billion rupees in state lenders over four years to March 2019. For the current fiscal year, Finance Minister Arun Jaitley has budgeted 250 billion rupees for bank recapitalisation.

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