Indian banks facing solvency crisis

The international credit rating agency, Standard and Poor's, says India's banks are facing a solvency crisis.

It says they require 11-12 billion dollars in new capital to support losses embedded in bad assets.

The agency says the capital injection will be necessary to maintain solvency in line with the minimum regulatory levels operating in India.

State-owned banks account for around 80 percent of the assets of all Indian commercial banks.

(23:53:31 AEST

http://www.abc.net.au/ra/newsdaily/s225841.htm

-- Martin Thompson (mthom1927@aol.com), December 19, 2000

Answers

Let me guess, IMF galloping to the rescue, yet once again. First Turkey, then Argentina and now India in a very short time frame. I can only imagine that the IMF must have the biggest printing press on the planet of the earth.

-- Guy Daley (guydaley@altavista.com), December 21, 2000.