Deep surgery needed to clean up bad loans: Rajan
RBI Governor Raghuram Rajan on Thursday said that "deep surgery" is needed to clean up banks' balance sheets but central bank and government efforts for the same would be successful. Warning analysts against "scare-mongering" about the level of banks' stressed assets, Rajan added that the RBI would strive to have "clean and fully provisioned bank balance sheets by March 2017".