How will the Indian central bank deal with banks' stressed assets worth $133b?

RBI's deputy governor has his eyes on banks' bad debts.

According to Reuters, Economist Viral Acharya spent nearly two decades studying banking crises around the world. Now, as a deputy governor at India's central bank, he is turning his attention to one that may be developing at home.

At issue is what to do with $133 billion in stressed assets accumulated by banks after years of reckless lending, a problem that has bedevilled regulators and stalled loans that India needs to revive private investment.

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