Bankers suit up for war on debt defaulters

.....In a country where businesses thrive on personal relationships, Indian banks have typically avoided involving the courts or liquidating assets — time-consuming efforts which often yield only minor results. Even the so-called “fast-track courts” for banks, formed in the last decade, can take more than two years to resolve a case. The central bank has called for better management of bad debts, and wants to strengthen oversight by lenders............

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