The RBI has asked banks to resolve 50 of the biggest defaulters within a year. Borrowers in telecom, thermal power and steel businesses are among those facing strict terms. Borrowers in telecom, thermal power and steel businesses are among those facing strict terms, said S&P Global Ratings analyst Abhishek Dangra. The Reserve Bank of India (RBI) has asked banks to resolve 50 of the biggest defaulters within a year. The code and the administration’s decision last month to inject $32 billion of capital into state-owned banks is expected to help lenders clean bad debts and prop loan growth.

Source: Mint November 24, 2017 05:03 UTC