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Macquarie sees ticking bomb for India as restructured loans fail

Iron and steel industry accounts for close to 20 per cent of restructuring cases by value

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HARD LINE: RBI governor Raghuram Rajan has proposed penalties and incentives to get lenders to move faster in containing soured debt in an effort to bolster the financial system.

Mumbai

INDIA's state-run banks' restructured loans are souring at a record pace, threatening their appetite for new lending with profitability already at a seven-year low.

Reworked assets that turned bad almost doubled to 570 billion rupees (S$12 billion) in the year ended March 31

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