India unshackles state banks with $33bn recap
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Asia

India unshackles state banks with $33bn recap

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In an unprecedented move to prop up its ailing state-owned banks, India announced a Rp2.1tr ($32.5bn) recapitalisation this week that market participants have hailed as a game changer. But while it goes a long way in plugging capital shortfalls, it is not yet clear if the injection will result in a feast of equity issuance, writes John Loh.

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