Govt to support banks to commercially deal with bad loans: Arun Jaitley

He added Indian Banks' Association would meet on Monday to discuss a mechanism to handle such settlements

India will support its banks to commercially deal with their bad loans, Finance Minister Arun Jaitley said on Monday after a meeting with senior executives of state-run lenders.

"Banks should be empowered and constitutionally protected to conduct commercially prudent settlements," Jaitley told a news conference in New Delhi.

He added the Indian Banks' Association would meet later on Monday to discuss and suggest a mechanism to handle such settlements.