NEW DELHI (Reuters) - Indian state-run banks recovered 607.3 billion rupees ($8.69 billion) of outstanding bad loans in the April-September period, which a finance ministry official said on Thursday was a “record” haul.
Financial Services Secretary Rajeev Kumar said the government would give funds to four to five banks under a prompt corrective action plan after considering their financial results.
He also said banks have raised 244.4 billion rupees from the market this fiscal year.
($1 = 69.8900 Indian rupees)
Reporting by Manoj Kumar; Writing by Krishna N.Das; Editing by Sanjeev Miglani