'Govt must not neglect bank recap despite pandemic'

India is neglecting bank recapitalisation as it focuses on debt moratoriums and interest waivers for borrowers amid the Covid-19 pandemic, a former central bank official told Reuters on Monday. Banks are saddled with over $120 billion in bad debt, and in severely stressed conditions the bad-loan ratio could nearly double by March, according to Reserve Bank of India (RBI) projections.

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