, Columnist
Gambling With the Distressed Dozen
The central bank is using new powers for a risky strategy on bad debt.
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Fifty-six years. That's how long it would take if the one dozen companies the Indian central bank is pushing into bankruptcy were to repay creditors by handing over their entire current operating income.
For India's capital-starved commercial lenders, at the receiving end of much of this $37 billion1497842927326 of unpaid debt, waiting for even 56 days without a resolution isn't an option. Hence the nuclear strike against errant borrowers.