Banks may need to be capitalised at present. Still, they would need additional capital of $70 billion ( Rs 5.3 trillion) to support India’s ambitions in becoming a $5 trillion economy, SBI Chairman Dinesh Khara said.
- Cabinet approves Rs 6,839 crore for Vibrant Villages Programme-II to boost border development
- ChatGPT Can Create Fake Aadhaar, PAN Cards—But Here’s Why It’s Not a Big Concern
- China to impose 34% additional tariff on all US goods from 10th April
- Rs 18,658 Crore Rail Network Boost to Strengthen Connectivity Across Three States
- Aerem Secures Rs 100 Crore Through Series A
“To really support this kind of activity, there is a need for significantly ramping up the capital of the banking system. Though, as of now, banks are very well-capitalised but seen in the context of a $5 trillion economy, my assessment is that additional capital worth $70 billion would be required for the banking system as a whole,” Khara said at Fibac 2021, a conference hosted by industry body Ficci and the Indian Banks’ Association (IBA).
