India's NPA securitisation market set to grow

India's non-performing asset (NPA) securitisation market is set to grow significantly, helping the country's banks resolve more than 600 billion rupee ($13.5 billion) of NPAs sitting on their balance sheets.

The forecast comes from a report by Fitch Ratings, which studied the development of the NPA securitisation market following India's Securitisation Act of 2002.

"The Reserve Bank of India (RBI) has encouraged investment in the sector by permitting foreign direct investors to buy equities of

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