The government of India is on the verge of announcing its second bailout package for the struggling banking sector, amidst a surge in non-performing assets.
Local banks, burdened with high levels of bad loans, are facing a tough time as they try to meet the demands of their customers and comply with the regulations.
In a bid to stabilize the financial sector, the Indian Chancellor has decided to step in once again, promising relief to the beleaguered institutions.
This comes after the first bailout package, which was announced earlier this year, failed to turn the tide.
As the banks grapple with the economic downturn, the Indian government hopes that the new package will help restore confidence in the banking system. |
