In association with

Government close to resolving some bad power loans - Piyush Goyal | Reuters

NEW DELHI The government is close to resolving bad loans made in the power industry for companies that owe money and are not avoiding repayment on purpose, Power Minister Piyush Goyal told reporters on Monday.

Bad loans in the power sector continue to weigh on India's banks, and the government has been looking for ways to help ease the pain for companies struggling to service their debts.

Goyal, speaking to reporters in New Delhi, did not immediately elaborate on how it would resolve the bad loans. (Reporting by Sudarshan Varadhan; Writing by Tommy Wilkes; Editing by Krishna N. Das)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Published Date: Jun 12, 2017 12:04 PM | Updated Date: Jun 12, 2017 12:04 PM