19-06-2016 13:51 via news.yahoo.com

India seen pressing ahead with bank clean-up despite Rajan exit

By Devidutta Tripathy and Neha Dasgupta MUMBAI (Reuters) - India's move to clean up the books of its banks saddled with $120 billion of sour loans will be largely unaffected by the decision of central bank chief Raghuram Rajan to step down, say bankers and government officials. As banks struggle with record levels of distressed assets, Rajan had set an ambitious March 2017 deadline for them to fully reveal the problem loans and make adequate provisions. Rajan's decision to bow out in September h
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