Investors welcomed the news, sending State Bank of India , the biggest lender, up as much as 25 per cent to its highest since January 2015. Investors welcomed the news, sending State Bank of India , the biggest lender, up as much as 25 per cent to its highest since January 2015. Fitch Ratings estimates Indian banks will need $65 billion of additional capital by March 2019 to meet Basel III global banking rules. Of the planned 2.11 trillion rupees sum, so-called recapitalisation bonds will account for 1.35 trillion rupees, while about 580 billion rupees is estimated to come from share sales by banks, the ministry said on Tuesday. The government will also use 180 billion rupees left from its previously budgeted recapitalisation fund.

Source: Indian Express October 25, 2017 05:08 UTC