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Govt needs to cut political interference in state banks

News:

  • India needs to minimise political interference in public sector banks, as the government announced measures to improve the performance of state-run banks that are struggling with rising bad loans.
  • India’s banking sector has been hobbled by its highest bad-loan ratio in a decade as slower economic expansion hurt companies’ ability to service debt.
  • While the pace of additions to bad loans has started slowing for most banks, higher provisioning is hurting their profits. State-run lenders also account for a majority of the sector’s bad loans.

Source: BS

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