Bad loans and stressed assets in banks estimated at Rs 10 trillion

Finance minister Arun Jaitley said the recapitalisation of state banks would be followed by a series of reforms.

Bad loans and stressed assets in Indian banks are estimated at Rs 10 trillion ($153.49 billion), Chief Economic Adviser Arvind Subramanian said on Wednesday.

Chief Economic Advisor Arvind Subramanian (PTI Photo)

India announced on Tuesday a Rs 2.11 trillion recapitalization plan for its state-owned banks over the next two years, in a bid by Prime Minister Narendra Modi to tackle a major drag on the economy that has frustrated his attempts to boost growth.