Indian Banking Sector

Indian Banking Sector Needs Rs. 89,000 Crore for New Ind-AS Accounting System

“Of the Rs 89,000 crore, public sector banks would need Rs 63,100 crore, which is equivalent to an equity write-down of 1.10 per cent of the banks’ risk-weighted assets and 11.5 per cent of net worth at end-March 2017,” India Ratings and Research said in a note.