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Everything you need to know about Indian banks' $191b 'zombie' debt
It's threatening the country's economic expansion.
The economy in India is growing faster than just about anywhere else, notes a Bloomberg report. But there’s a threat to that expansion, one that the authorities are struggling to address: the mountain of bad debt at the nation’s banks.
"Those soured loans have contributed to a $191 billion pile of zombie debt that’s cast the future of some lenders in doubt and curbed investment by businesses. In the latest push for a solution, the central bank has been handed extra powers over lenders," adds Bloomberg.
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