With the pandemic forecast to push soured assets to a two-decade high, Prime Minister Narendra Modi is struggling to find cash to support the state-run lenders that hold most of it, and to spur credit to a shrinking economy.
India has rolled out a fresh plan to tackle an old problem: the mountain of bad loans held by its banks. Most of the risky debt is concentrated in two sectors — telecoms and utilities — that are vulnerable to the economic slowdown, meaning if they face more trouble, then a
Summary automatically generated by NewSUM A.I. from the following sources:
- India Has a New Plan to Tackle $140 Billion in Bad Loans (washington post)
- India Has a New Plan to Tackle $140 Billion in Bad Loans: QuickTake (washington post)