Calls for upgrading Indias corporate insolvency framework
Washington, October 6:
Indian banks are vulnerable to further decline in profits as they face slow credit growth and elevated non-performing assets, IMF has said, calling for additional and more timely action to deal with the problem of bad loans.
Banking systems are vulnerable to further declines in growth or profits, particularly in countries at later stages of the credit cycle (such as India), where slowing credit growth and risks from elevated levels of non-performing loans are most acute, said the International Monetary Funds Global Financial Stability report.
Gross NPAs of public sector banks have surged to 9.32 per cent (4.76-lakh crore) in 201…
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