India says state-run banks need $28 bln capital over 4 years

July 31, 2015 9:46 AM

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NEW DELHI, July 31 India's state-run banks will need 1.8 trillion rupees ($28.07 billion) capital beyond their own growth from now until 2018/19 to meet lending requirements and global regulatory rules, a finance ministry statement said on Friday.

Out of this, the government plans to provide 700 billion rupees ($10.92 billion) through budgetary support. Banks would be required to raise the remaining amount from the market, the statement said.

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