The Dubai debt crisis is unlikely to have any major impact on the country’s banking sector as Indian Banks have an insignificant exposure to the Gulf region, top banker said. They have only 7-8% of their total loanbook in the entire Gulf region which amounts to Rs 10,000 crore. These accounts are well maintained and is unlikely to cause any kind of impact on the balance sheet” This has been stated by the CMD MD Mallya of Bank of Baroda.
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