Govt asks Corporate Majors to Start Repay bank Loans

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  • TAKING a tough stance to address the bad loan crisis, the government has asked about a dozen big corporate groups to start repaying loans at the earliest.
  • The top 10 groups that figure in the ‘House of Debt’ are Essar, Reliance ADAG, Adani, GMR, GVK, Lanco, Jaypee, JSW, Videocon and Vedanta.
  • The government, at its highest level, is tracking the loan recovery progress in banks.
  • The promoters of some of these companies have conveyed to the government that they are in the process of selling their assets to pay back.