MUMBAI (Reuters) - 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 percent in fiscal 2012/13, up from 6.9 percent 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.
(Reporting by Shamik Paul; Editing by Andrew Heavens)
Trending On Reuters
The death toll from Nepal's earthquake could reach 10,000, the prime minister Sushil Koirala said, as residents frustrated by the government's slow response used their bare hands to dig for signs of their loved ones. Full Article | Pictures