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  Business   Economy  14 Jun 2017  Resolution of Indian banks' bad loans primary focus of govt: Sanyal

Resolution of Indian banks' bad loans primary focus of govt: Sanyal

PTI
Published : Jun 14, 2017, 11:34 am IST
Updated : Jun 14, 2017, 11:34 am IST

Sanyal's comments came a day after the RBI revealed that it had identified 12 of the largest loan defaulters.

 Economist Sanjeev Sanyal.
  Economist Sanjeev Sanyal.

A resolution of Indian banks' bad loans is the "first and primary focus" of the government, a senior finance ministry official said on Wednesday.

Sanjeev Sanyal, principal economic advisor at the ministry, also told television channel CNBC-TV18 that state-run banks would be consolidated primarily on commercial considerations.

Sanyal's comments came a day after the Reserve Bank of India (RBI) revealed that it had identified 12 of the largest loan defaulters and would order lenders to start bankruptcy proceedings against them to start unclogging the $150 billion in bad debt plaguing Asia's third-largest economy.

Tags: reserve bank of india, banks, bad loans, non performing assets, debts, economy, loan defaulters, finance ministry, sanjeev sanyal