 "banks")
India has tweaked rules to help tackle the record $150 billion in troubled bank debts, giving the central bank greater powers to force resolutions on specific soured loans.
In an executive order published on Friday that alters the country's Banking Regulation Act, the government authorised the Reserve Bank of India to direct banks to initiate an insolvency resolution process in the case of a default under provisions of the bankruptcy code.
The ordinance, which goes into effect immediately, also said the RBI may specify one or more authorities, or panels to advise banks on resolution of stressed assets.
The move marks the latest
