Financial sector will need to be recapitalised, says Uday Kotak

"The banking sector's loan book is about Rs 100 lakh crore and the total capital of all banks in India is about Rs 11 to 12 lakh crore. So, if 4-5 per cent of loans turn bad due to COVID, the capital position of the banking sector will get impacted by about 40 per cent," Kotak said in the company's latest Annual Report.

from Banking/Finance-Industry-Economic Times https://ift.tt/2ObvNOc