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BUZZ-Indian banks surge on hopes govt, cenbank to tackle bad debt
May 25, 2017 / 10:04 AM / 4 months ago

BUZZ-Indian banks surge on hopes govt, cenbank to tackle bad debt

** Indian banks rally, helping send Nifty Bank index up as much as 3.2 pct to record high

** Bank index is biggest contributer to gains in broader indexes

** Analysts say the sector is gaining on continued hopes of RBI, government action to tackle bad debt in the sector

** Local media report on Thursday says India will sign pacts with 10 state-run lenders to inject fresh capital if they provide plans to reduce bad loans, citing finance ministry officials

** State Bank of India and Bank Of India rise as much as 2.9 pct and 7.5 pct respectively

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