India sees record default rate among restructured loans

09/30/2013 | Bloomberg

Restructured loans held by Indian banks are going into default at a record-high rate as the economy suffers its deepest downturn in a decade. SBI Capital Markets, a unit of India's biggest lender, says as much as 20% of renegotiated credit in the banking system is designated as in default. Renegotiated loans totaled $40 billion at the end of June.

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