Growth pangs

Reserve Bank of India Governor D. Subbarao has laid out the government’s difficult predicament. India is committed to the Basel III framework for bank capital regulation, he says. The framework requires adding Rs 5,00,000 crore to the capital of the Indian banks by March 2018. Of this, Rs 1,00,000 crore has to be government cash, to be put in the safe of the public sector banks, if the present level of its shareholding in the banks continues.

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