Banks Likely To Recover Bad Loans Worth Rs 700 billion By March-end: Arun Jaitley

India's Finance Minister Arun Jaitley said on Thursday commercial banks were likely to recover 700 billion rupees  ($9.95 billion) of bad loans by the end of March, helped by resolution of 12 large cases. 

Some of the big cases such as Bhushan Power and Steel Ltd and Essar Steel India Ltd are in advanced stages of resolution, and are likely to be resolved in this financial year, Jaitley said in a blog post on Facebook.

Lenders have so far recovered Rs 800 billion from the resolution of 66 cases, he added.

(Reuters)