Bad loans and stressed assets in banks estimated at Rs 10 trillion

Chief Economic Advisor Arvind Subramanian

Bad loans and stressed assets in Indian banks are estimated at Rs 10 trillion ($153.49 billion), Chief Economic Adviser Arvind Subramanian said on Wednesday.

India announced on Tuesday a Rs 2.11 trillion recapitalization plan for its state-owned banks over the next two years, in a bid by Prime Minister Narendra Modi to tackle a major drag on the economy that has frustrated his attempts to boost growth.

 

 

[“source=hindustantimes”]