India Unveils Steps for Bad Loan-Laden Banks to Boost Credit
- Removes need to set aside cash for new loans to some sectors
- Provides up to $14 billion to banks at a lower interest rate
A motorcyclist rides along a road in Lucknow, Uttar Pradesh.
Photographer: Prashanth Vishwanathan/BloombergThis article is for subscribers only.
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India’s central bank unveiled steps to encourage banks to lend more to small businesses and home buyers in a bid to spur credit growth in the struggling economy.