Modi’s reforms will help India avoid risk of debt crisis – Global Times
Illustration: Luo Xuan/GT India’s banking system has restructured more than 6 trillion rupees ($92.34 billion) in bad debts over the past three years. The recent $2 billion Punjab (PNB)-Nirav Modi fraud has made it worse. Though statistical methods vary, even the lowest estimate of the bad debt ratio exceeds 10 percent. But it is unlikely…