Top hedge fund Avendus Capital turns to state-run banks as bad loans wane
Updated : November 16, 2018 11:07 AM IST
State-run banks will also benefit if the economy continues to grow at about 7 percent, Andrew Holland, chief executive of Avendus Capital Public Markets Alternate Strategies LLP, said at the Reuters Global Investment 2019 Outlook Summit.
Bad loans at Indian banks reached a record $150 billion at the end of March with state-run banks accounting for the lion's share.
But the bad debt is declining, Indian Finance Minister Arun Jaitley said in September.
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