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India's banking sector celebrates a major victory as bad loans drop below 2%. Learn how public and private lenders achieved record profits and improved asset quality, driving a 39% y-o-y increase in net profits.
(Bloomberg) -- Westpac Banking Corp. saw a reduction in stressed assets as it reported profit for the quarter, with Chief Executive Officer Peter King noting that Australian interest rates will likely decrease over the coming year.Most Read from BloombergTrump Keeps NY Empire Intact as Judge Rescinds Asset-Sale OrderRecord US Stock Rally Is Under Threat From a World in TurmoilSystemic Risk Concerns Grow Among Money Managers as Real Estate Woes Cause TurmoilTop Investors Share the Toughest Lesson
Swaminathan delivered these comments at the Conference on Resolution of Stressed Assets, and IBC organised by CAFRAL in Mumbai on January 10.
Amendments to India's bankruptcy law should focus on a financial creditor-led framework for resolution of stressed assets, the governor of the country's central bank said ......
On stressed assets, RBI Governor Shaktikanta Das said one major impediment for implementing a successful resolution plan has been the absence of a vibrant market for stressed assets in the country.