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Slowdown may hurt banks' asset quality: Pranab Mukherjee
DK Mehrotra, Chairman of country’s largest life insurer, Life Insurance Corporation of India or LIC, speaks to NDTV Profit’s Vijay Iyer about how the market volatility and regulatory issues affected the company in the last fiscal and what kind of steps th
07 Apr 2012, 05:12 PM IST 
Sports Car designer Ferdinand Alexander Porsche, with a Porsche 911 Carrera
A slowdown in India's gross domestic product could impact banks' asset quality, Finance Minister Pranab Mukherjee said on Saturday.
Mukherjee, speaking at an industrial event in Mumbai, added banks would have to raise additional capital to meet requirements for Basel III global banking rules.
Indian economy is likely to grow by 7.6 per cent in fiscal 2012/13, up from 6.9 per cent in the current year, which is the lowest rate recorded in nearly a decade excluding the global financial crisis in 2008, Mukherjee said last month.
Copyright @ Thomson Reuters 2012