Government Impact on Indian Stock Market

The Finance Ministry is considering a proposal to set up a National Asset Management Company that may act as a nodal agency for taking over bad loans of banks and help revive sick units.

There is a proposal to form such an entity, for which public sector banks can jointly put in capital, sources said.

Indian shares may open little changed following weakness in Asian rivals while investors also expect some consolidation ahead of the new government's budget, due to be unveiled byearly or mid-July.

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