Bank Rescue Plan May Lure Foreigners Anew to Indian Stocks
- Government’s $32 billion rescue may ease growth concerns
- Foreign fund withdrawals in October approach $1 billion
India's State-Run Banks Soar
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Indian equities, already among the top performers in Asia this year, may start drawing back foreigners after the government announced a $32 billion rescue for state-owned banks weighed down by bad loans.
“Foreign investors will view this very positively,” said Sageraj Bariya vice president of sales at East India Securities. The plan “should inspire confidence in trade, industry and investors.”