The move is aimed at stimulating demand in Asia's third-largest economy that is struggling to recover from the worst slowdown in a decade.
New Delhi: Indian banks will get additional capital to provide loans at lower interest rates for purchases of two-wheelers and other consumer durables, the finance ministry said in a statement on Wednesday.
The move is aimed at stimulating demand in Asia's third-largest economy that is struggling to recover from the worst slowdown in a decade.
The decision was taken at meeting between Finance Minister P Chidambaram and new RBI chief Raghuram Rajan, the statement added.
New Delhi has also decided in principle to inject 140 billion rupees in state-run banks in this fiscal year, it added.
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