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Arun Jaitley Vows to Find Resources To Support Debt-Laden Banks

Mr Jaitley said that stressed bank assets have become a "concern" for the economy.

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Arun Jaitley Vows to Find Resources To Support Debt-Laden Banks

Mr Jaitley wants banks to help fund economic growth, which fell to a 3-year low in June quarter.


Mumbai: The government will make efforts to find resources to support debt-laden banks to help them fund economic growth, Finance Minister Arun Jaitley told a meeting of bankers on Friday.

Mr Jaitley said that stressed bank assets have become a "concern" for the economy. Bad loans have crimped the ability of lenders to offer new credit.

Growth in the country slowed to a three-year low of 5.7 per cent in the quarter that ended in June, and Mr Jaitley said on Wednesday that the government was looking for ways to speed it up.
 
© Thomson Reuters 2017


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