Monday, 12 June 2017

Government close to resolving some bad power loans

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The government is close to resolving bad loans made in the power industry for companies that owe money and are not avoiding repayment on purpose, Power Minister Piyush Goyal told on Monday.

Bad loans in the power sector continue to weigh on India's banks, and the government has been looking for ways to help ease the pain for companies struggling to service their debts.

Goyal, speaking to reporters in New Delhi, did not immediately elaborate on how it would resolve the bad loans.

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