Government to infuse â¹2 lakh crore into state-owned banks
The Finance Ministry on Tuesday said the Cabinet has approved a â¹2.11 lakh crore-plan to recapitalise state-owned banks over the current and next financial year. This will be supported by recapitalisation bonds, government's budgetary support, and the market. Finance Minister Arun Jaitley said that indiscriminate lending by the banks between 2008 and 2013 has created today's non-performing assets.