India: Has the strategic debt restructuring experiment run aground

India: Has the strategic debt restructuring experiment run aground

The Reserve Bank of India (RBI) seal is pictured on a gate outside the RBI headquarters in Mumbai, India, February 2, 2016. REUTERS/Danish Siddiqui/File Photo

It was billed as a powerful tool in the clean-up of bank balance sheets laden with bad loans, but has proved to be a bit of a dud.

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