Tareek pe tareek pe tareek," ranted Bollywood actor Sunny Deol in a famous scene from the 1990s movie, Damini, which epitomised Indian the judiciary’s snail pace in deciding on cases. Indeed, State Bank of India’s (SBI) chairman Rajnish Kumar would have had the same feeling as Deol’s character, with the recovery from defaulter Essar Steel stretching on and on. This means that lenders to Essar Steel will soon get their cheques and it is no chump change. Those at JP Morgan said that SBI and ICICI Bank are the biggest winners in terms of recovery. Banks are not off the hook yet, as far as stress is concerned and investors would be right in being cautious.

Source: Mint November 18, 2019 06:22 UTC