India seeks to tackle stressed loans without backlash
New Delhi
INDIA'S Finance Minister Arun Jaitley said on Monday that state bankers would propose a mechanism to reach "commercially prudent" loan settlements, as the government and lenders met to discuss how to tackle the country's bad loan problem.
The proposal is to create a steering committee of the five banks with the greatest loan exposure that would analyse problem loans and recommend steps such as replacing management and deep loan restructuring at ind…
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