The biggest ever fire sale of Indian corporate assets has begun

October 05, 2016 13:33

We are seeing what is effectively India Inc.'s biggest ever fire sale. It's even bigger than the government's planned divestment target.The Reserve Bank of India's (RBI) has decided to clean up the balance sheets of Indian banks, which are collectively saddled with Rs five lakh crore of bad loans, by the end of this fiscal. So, the banks have started cracking the whip on Indian companies for repayment of loans. For most affected firms and groups, this will mean they will be forced to sell prized assets to repay their ballooning debts. Read more

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