RBI’s Acharya says India ‘urgently’ needs asset management company

A view of Mumbai

India must get on with the task of cleaning up its banking sector, and creating an asset management company could be a good way of going about it, according to the Reserve Bank of India's Viral Acharya.

The central bank's newest deputy governor said there was a "certain sense of urgency" to his remarks, delivered in Mumbai on February 21. India's banks have an aggregate share of non-performing assets (NPAs) at around 17%, with the figure at some institutions exceeding 20%. The problem has

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