Arun Jaitley bats for quicker, efficient debt recovery – ANI News

Gurgaon, Nov 05 (ANI): Finance Minister Arun Jaitley on Saturday called for faster resolution in recovery procedures from loan defaulters. Addressing a seminar on debt recovery in the satellite town of Gurgaon, Jaitley said the system needed to have teeth to rein in wilful defaulters. Firms have seen debt levels nearly triple in the past five years and are struggling to digest debt already on their balance sheets. Jaitley asserted that even though public investment and foreign capital in India were intact, domestic investments needed to pick up to let the economy start firing on all cylinders. He urged the banking sector to support the private sector in its growth.

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