RBI’s Acharya says India ‘urgently’ needs asset management company
New deputy governor says stressed assets must not be allowed to “fester”
India must get on with the task of cleaning up its banking sector, and creating an asset management company could be a good way of going about it, according to the Reserve Bank of India's Viral Acharya.
The central bank's newest deputy governor said there was a "certain sense of urgency" to his remarks, delivered in Mumbai on February 21. India's banks have an aggregate share of non-performing assets (NPAs) at around 17%, with the figure at some institutions exceeding 20%. The problem has
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