The Indian Rupee has slipped to its lowest level since December 18, trading at around 64.26 against the US Dollar while 10-year bond yield rose to 7.33 percent, the highest level since July 13, 2016.
The government is likely to push ahead with banking sector reforms alongside an infusion of fresh capital in state-owned lenders in the new year as it looks to lift banks out of NPA crisis and revive lending growth from a 25-year low.
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The government in October announced infusion of an unprecedented Rs 2.11 lakh crore capital over two years in public sector banks that are reeling under high non-performing assets (NPAs). Their NPAs have increased more than two-and-a-half times to Rs 7.33 lakh crore as of June 2017, from Rs 2.75 lakh crore in March 2015.
Of the Rs 2.11 lakh crore package, Rs 1.35 lakh crore would be infused through recapitalization bonds.
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