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Indian banks' bad loans reach a record $146b
Are the country's bad debt problems out of control?
According to a report by Reuters, Indian banks’ sour loans hit a record 9.5 trillion rupees ($145.56 billion) at the end of June, unpublished data shows, suggesting Asia’s third-largest economy is no nearer to bringing its bad debt problems under control.
"A review of 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 percent in the six months to end-June. In the previous six months they had risen 5.8 percent," Reuters said.
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