Indian Banks Saddled with $28 billion in Bad Loans

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00017718-indian-banks-saddled-with-28-billion-in-b/

Indian laws and courts are hampering the recovery of the massive $28 billion that Indian banks are saddled with in bad debts, an Australian financial consultant said on Sunday.

Should even half of this be recovered, it will cover the $11-12 billion that the Indian government estimates the banks will have to raise in the next five years to finance large infrastructure projects, said Bill O’Chee of Queensland-based debt recovery firm Knights Insolvency International.

For this complete story, please visit Indian Banks Saddled with $28 billion in Bad Loans.

Indian Banks Saddled with $28 billion in Bad Loans

Unknown Author

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