A step for India's banks, but no giant leap for bad debt
Changes to legislation allow RBI to push more lenders to start insolvency proceedings
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Mumbai
INDIA'S move to strengthen the hand of its central bank will help it push reluctant lenders towards writedowns and errant borrowers into insolvency, bankers said, but the country is far from drawing a line under its US$150 billion of sour debts.
India's bad loan problem is choking off new credit and dampening economic growth, and the government of Prime Minister Narendra Modi knows it needs to act.
Share with us your feedback on BT's products and services
TRENDING NOW
Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS
Amazon’s MGM Studios gains creative control over ‘James Bond’ franchise
UOB’s Wee Ee Cheong says S$4.9 billion Citi deal ‘paying off’ as Asean push accelerates
In taxing wealth, how far can Singapore push property owners?
