News From Press Mutual funds increase exposure to 10 merged lenders in 2019

Mutual funds increase exposure to 10 merged lenders in 2019

The investments in the 10 banks stood at ₹7,664 crore at the end of the June quarter.

Economic Times Sep 3, 2019

The government’s increasing focus on recapitalising state-run banks and reducing their bad debt has served as a convincing basis for leading mutual funds to enhance exposure in them.

Finance Minister Nirmala Sitharaman recently said that bad loans of public sector banks have collectively declined ₹89,189 crore to ₹8.06 lakh crore during FY19. She said that due to various government initiatives, PSU banks have recovered ₹3.59 lakh crore in the past four fiscals.

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