NEW DELHI, Jan 10 (Reuters) - The Indian cabinet has
approved a plan to infuse 122 billion rupees ($2.22 billion) in
state-run banks, a minister, who declined to be named, told
reporters on Thursday.
India's state-run banks are facing rising non-performing
assets (NPA) and write-offs because of poor lending decisions.
Finance Minister P. Chidambaram said the combined injection
of capital would not exceed the 150 billion rupees provisioned
in the budget for the fiscal year ending 2013, which is short of
the banks' requirements.
($1 = 54.8550 rupees)
(Reporting by Nigam Prusty; Editing by Anand Basu)