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.
Nine big financial changes that you must watch out for in October
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