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Asia Times

Asia Times

Covering geo-political news and current affairs across Asia

Tag: Steel Authority of India

Indian Prime Minister Narendra Modi (R) and Finance Minister Arun Jaitley are trying to persuade businesses and banks to help each other out dealing with bad loans. Photo: Reuters/Anindito Mukherjee
Posted inIndia, South Asia

Indian state-owned firms resist pressure to help with bad debt

by Reuters November 25, 2016February 18, 2020

India’s government is pushing state-owned steel, power and shipping firms to take over assets of private companies that have defaulted on loans, but faces resistance from them, leaving it scrambling to clear a US$135 billion pile of stressed loans from banks’ books. Over the past two years, Prime Minister Narendra Modi’s government has pushed banks […]

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