India focuses on resolving bad loans

Dhaka,  Mon,  25 September 2017
Published : 14 Jun 2017, 12:46:33

Resolution of Indian banks' bad loans primary focus of government - adviser

A resolution of Indian banks' bad loans is the "first and primary focus" of the government, a senior finance ministry official said on Wednesday.

Sanjeev Sanyal, principal economic advisor at the ministry, also told television channel CNBC-TV18 that state-run banks would be consolidated primarily on commercial considerations.

Sanyal's comments came a day after the Reserve Bank of India (RBI) revealed that it had identified 12 of the largest loan defaulters and would order lenders to start bankruptcy proceedings against them to start unclogging the $150 billion in bad debt plaguing Asia's third-largest economy.

Editor : A.H.M Moazzem Hossain
Published by the Editor for International Publications Limited from Tropicana Tower (4th floor), 45, Topkhana Road, GPO Box : 2526 Dhaka- 1000 and printed by him from City Publishing House Ltd., 1 RK Mission Road, Dhaka-1000.
Telephone : PABX : 9553550 (Hunting), 9513814, 7172017 and 7172012 Fax : 880-2-9567049
Email :,
Copyright © 2017. All rights reserved
Powered by : orangebdlogo