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Bad debts and no boss - IOB a challenge for Modi

Its bad loan ratio stands at 20.5% as at June 30, versus 9.4% a year earlier
Saturday, September 24, 2016 - 05:50
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A LOT TO DO: Mr Modi needs to revive the banking system burdened by about US$120 billion of stressed assets to spur credit growth and support expansion.

Mumbai

AS Indian Overseas Bank (IOB) tackles the highest ratio of soured loans among lenders in Asia's third largest economy, it does not help that there has not been a chief executive officer at the helm for about three months.

The state-controlled lender based in the southern