You are here: Home » Economy & Policy » News
Business Standard

Sell stakes in public sector cos to resolve NPA problem: Raghuram Rajan

More than $150 billion of bad debt is crimping credit growth in Asia's third-largest economy

Reuters  |  New Delhi 

India could sell stakes in state-owned companies to fund a bank recapitalisation and revive growth without straying from the path of fiscal consolidation, the former head of the Reserve Bank of India (RBI) said on Thursday. Stronger, better-managed banks should be given the capital they need to absorb losses as a matter of high priority, Raghuram Rajan, who left the RBI last year, told Reuters in an interview. More than $150 billion of bad debt is crimping credit growth in Asia's third-largest economy, and the government and the RBI have been trying to ease the burden on ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Fri, September 08 2017. 08:04 IST
RECOMMENDED FOR YOU