The government sought parliamentary approval to inject Rs 20,000 crore ($2.72 billion) in state-run banks in the current fiscal year, to help lenders mitigate the expected surge in bad loans due to the pandemic. The pandemic’s impact is likely to push up the ratio of gross non-performing assets in the Indian banking system to 12.5% by March 2021, from 8.5% in March 2020.

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