Bloomberg News

India’s Rangarajan Says Banks Need to Raise Capital From Public

November 05, 2011

Nov. 5 (Bloomberg) -- State-owned banks in India need to raise capital from share sales to public and their own resources, according to Chakravarthy Rangarajan, a top economic adviser to Prime Minister Manmohan Singh.

The banks need to “watch out” for any liquidity issues, he said, according to a speech distributed at a conference in Chennai in South India today.

To contact the reporter on this story: Anoop Agrawal in Mumbai at aagrawal8@bloomberg.net

To contact the editor responsible for this story: Vipin Nair at vnair12@bloomberg.net


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