What seemed like the answer to bankers’ prayers is mired in regulatory reluctance, with the big questions on India’s bad loan crisis still unanswered.
When one looks back at the history of bad loans in the Indian banking system and the various attempts by bankers to recover their dues, the term “delay” will feature prominently at every step of the process.
One example is Amtek Auto.
In June last year, bankers were certain that the insolvency process for the automotive parts maker was in its final leg and a three-year court-monitored process would come to an end. The company, which owed banks over Rs 9,000 crore in loans, was on the “dirty dozen” list of big corporate defaulters referred to the bankruptcy process by …
Advait is a financial journalist and a former writer at The Morning Context. Here, he wrote on India’s banks, the wider financial services industry and the fintech ecosystem. He has previously worked with the Economic and Political Weekly, Business Standard, BloombergQuint and MediaNama, where he covered everything from the Reserve Bank of India to fintech policy.
Writer
advait@mailtmc.com
Mumbai