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MUMBAI (Reuters) - Indian bank shares edged higher on Wednesday after the central bank said it had identified 12 of the largest loan defaulters and will order lenders to start bankruptcy proceedings against them, without disclosing any account names.
While taking defaulters to bankruptcy proceedings will speed up resolution of bad loans, it may also require the capital-starved state-run banking sector to make higher provisioning, analysts said.
($1 = 64.3300 Indian rupees)
Reporting by Devidutta Tripathy; Editing by Rafael Nam