Finance Minister Arun Jaitley announced a plan to give $32 billion to banks over the next few years. This is still only a fraction of what independent analysts estimate is necessary to restore state-owned banks to health. The implications for both India's banks and its macroeconomic stability are not quite as positive as they might appear. This is, in the words of India's chief economic adviser, "not new", and the "residual resource mobilisation" of a bailout package designed a few years ago. Short this knowledge, I don't think we should be particularly sanguine about how India's new bailout will turn out.

Source: Bangkok Post October 26, 2017 20:48 UTC