India's Finance Minister Arun Jaitley said on Thursday commercial banks were likely to recover Rs 70,000 crore ($9.95 billion) of bad loans by the end of March, helped by resolution of 12 large cases. Some of the big cases such as Bhushan Power and Steel Ltd and Essar Steel India Ltd are in advanced stages of resolution, and are likely to be resolved in this financial year, Jaitley said in a blog post on Facebook. Lenders have so far recovered Rs 8,000 crore from the resolution of 66 cases, he added.
Jaitley sees banks recovering Rs 70,000-cr bad loans by March-end
Lenders have so far recovered Rs 8,000 crore from the resolution of 66 cases