RBI chief Raghuram Rajan says need to improve health of banks

The Reserve Bank of India Governor Raghuram Rajan said on Thursday that the health of the country's lenders needed to be improved, adding the central bank was taking steps in that direction.

Indian banks, which have about $120 billion in bad and troubled loans, are set to reveal more sour debt in the coming weeks after a clean-up ordered by the central bank.