India’s central bank will now seek weekly reports on toxic loans from lenders

The Reserve Bank of India (RBI) has tightened the leash on banks, and its new norms may force lenders to recognise bad loans sooner than later. This, after some of the country’s largest banks, including the giant State Bank of India, have juggled soured loans in the past, citing technicalities.

In order to make the process of declaring and reporting bad loans more efficient, the RBI has streamlined existing norms into a new framework, a notification on Monday (Feb. 12) said. This is...

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