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No respite for Indian banks as bad loans hit record $146 billion

In the previous six months they had risen 5.8%

Reuters  |  Mumbai 

Indian banks’ sour loans hit a record Rs 9.5 lakh crore ($145.56 billion) at the end of June, unpublished data show, suggesting Asia’s third-largest economy is no nearer to bringing its bad debt problems under control. A review of the Reserve Bank of India (RBI) data obtained through right-to-information requests shows banks’ total stressed loans, including non-performing and restructured or rolled over loans, rose 4.5 per cent in the six months to end-June. In the previous six months they had risen 5.8 per cent. While banks remain the main source of funding ...

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First Published: Wed, October 11 2017. 01:42 IST