The worst of India banks' bad-loan woes may be yet to come
Mumbai
JUST when many Indian banks thought the worst of their bad debt woes were behind them, new central bank rules are stoking fears that the worst of the soured-loans buildup is yet to come.
The central bank surprised the financial sector this week by halting all of its existing loan-restructuring mechanisms with immediate effect, and rolling out new rules that will push more debt defaulters into bankruptcy courts.
To force its point home, the Reserve Bank of India (RBI) set strict timelines for lenders to take action aga…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
US veto sinks Palestinian UN membership bid in Security Council
Pro-China local leader ousted in Solomon Islands election
Japan‘s March inflation slows to 2.6%, eyes on BOJ move
S&P downgrades Israel rating on heightened geopolitical risk
‘We have our jury’: panel selected for Trump criminal trial
UK wage growth and services inflation too high for rate cut, BOE’s Greene says