Before, India had robust growth and banks augmented their loan books rapidly. However, it was short-lived with project approval delays, decline in commodity prices and cost overruns. All of this led to the quantum of stressed loans in the banking system. We witnessed how the COVID-19 pandemic only vitiated that stress. The banking sector non-performing assets (NPAs) in India aren estimated at over 10% of assets at about $135 billion. Global distressed debt investors have made some waves in India, with dynamic insolvency laws breeding a credit-friendly environment. How can this regulatory regime bring out the best opportunities? How can these opportunities be leveraged? What does the road pave for India's distressed debt market?
Ambrish Singh, Managing Director - Head of Loans & Principal Investments (India), Nomura
Prasan Dhar, Partner – Banking and Finance, Trilegal
Moderator: Ashok Rajgopal, Partner Recovery & Reorganisation, Grant Thornton Bharat