India makes (another) push to curb spiraling bad debt
Six new enforcement agencies will be set up in India to help banks recover debt by selling the defaulter’s asset. The move is a sign of the new government’s harsher stance on bad loans.
India’s Ministry of Finance will set up six new debt recovery tribunals (enforcement agencies) to help its state-owned banks recover debt by selling defaulter corporate’s assets more effectively. The move, made on July 10, is part of the government’s effort to curtail the country’s soaring debt problems.
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