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Indian bank places newspaper ads to collect debts

Tuesday, July 09, 2013 - Posted by Philip Harvey

With a profitable textile company not repaying its loan, a state owned Indian bank took the step of pacing ads in the newspaper that the profitable textile company was a defaulter. Another state owned bank is also preparing to make public a list of corporate borrowers who are not repaying their loans in order to collect the debts.

Previously state owned banks in India have not been as proactive. However stressed loans are now more than 10% of the banks assets. India is also going through a prolonged period of slow economic growth which has prompted a shift in approach to their debt collection. It is intended that bad debts will reduce by 1% with this push.

This article was sourced from The Indian Express (

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