Bad-loan suits drop after rising sharply in the preceding 2 years

While the RBI has been pushing for an action plan to implement the NPA (non-performing asset) ordinance, banks have been somewhat lax in taking legal recourse to recover bad loans. According to data published by Credit Information Bureau of (India), of the 9,500-odd cases filed by banks and financial institutions, in the case of loans above ₹1 crore, defaulters owed banks about ₹1.5 lakh crore a...