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No agreement upon bad debt cleanup plan: Central Bank Deputy
April 24, 2017
- The Indian government and the Reserve Bank of India had not yet reached an agreement on a new plan to clean up the record troubled debt accumulated at the country’s lenders, S.S. Mundra, a Deputy Governor at the Central Bank said on Thursday.
- Mundra, in an interview with CNBC TV18, added it would be “difficult to put a timeline” on when consensus could be reached but said it “could be very near”.
- Investors have been waiting for India to come up with a new plan on how to deal with almost $150 billion stressed assets at banks after Finance Minister Arun Jaitley said last month it would soon announce new action.
