India's bad loans and stressed assets estimated at Rs 10 lakh crore


Business, Economy

Govt has pledged Rs 2.11 lakh crore recapitalisation plan for state-owned banks over next two years.

Banks have been reeling under bad loans, stressed assets and NPAs. (Photo: Representational/PTI)

New Delhi: Bad loans and stressed assets in Indian Banks are estimated at 10 trillion rupees ($153.49 billion), India’s Chief Economic Adviser Arvind Subramanian said on Wednesday.

India announced on Tuesday a 2.11 trillion recapitalization plan for its state-owned banks over the next two years, in a bid by Prime Minister Narendra Modi to tackle a major drag on the economy that has frustrated his attempts to boost growth.