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Day of reckoning imminent for India's troubled lenders

Reserve Bank of India due to complete bank audits by the end of this month

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Data compiled by the RBI show that gross bad debt in India's banking system stood at 5.1 per cent as at Sept 30, more than three times the bad-debt ratio at Chinese banks, .

Mumbai

THE day of reckoning is coming: The Reserve Bank of India is due to complete its audit of all 50 of the country's banks by the end of this month, forcing them to lay bare their hidden non-performing loans, stop making new loans to deadbeat borrowers just to pay the interest on...

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