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Report: India central bank to relax lending curbs on some banks

The Reserve Bank of India will review the audited results of 11 state-owned banks for the quarter ended Dec. 31, 2018, before deciding whether to ease lending curbs on some of them, Reuters reported Jan. 10, citing an official with direct knowledge of the matter.

The central bank's Board for Financial Supervision reportedly met Jan. 10 and looked at estimates for the performance of the banks for the fiscal third quarter. The central bank will likely ease lending curbs on about three to four banks, the official said.

The report came after India's government called on the central bank to relax lending restrictions that it had imposed on a number of state-owned banks.