Over-optimistic bankers, growth slowdown responsible for NPAs: Raghuram Rajan

September 11, 2018 12:12

Over optimistic bankers, slowdown in government decision making process and moderation in economic growth mainly contributed to the mounting bad loans, said former RBI Governor Raghuram Rajan in a note to Parliamentary panel.

In a note to Chairman of Estimates Committee Murli Manohar Joshi, he said: "A variety of governance problems such as the suspect allocation of coal mines coupled with the fear of investigation slowed down government decision making in Delhi, both in the UPA and the subsequent NDA governments".

Project cost overruns escalated for stalled projects and they became increasingly unable to service debt, he said, adding the continuing travails of the stranded power plants, even though India is short of power, suggests government decision making has not picked up sufficient pace to date." -- PTI

« Back to LIVE

TOP STORIES

Yes Bank Q4 profit doubles to Rs 452 crore

Yes Bank on Saturday reported over two-fold jump in standalone net profit at Rs 452 crore for March quarter 2023-24, primarily due to benefits on the provision front. In the year-ago quarter, the bank logged a profit of Rs 202.43 crore....

Kejriwal in jail, wife holds massive roadshow in Delhi

She said the Delhi CM was jailed because he built schools, provided free electricity and opened Mohalla Clinics.

'Aim is to double individual first-year premiums in 3 yrs'

'Currently, our individual first premium would be in the Rs 3,000-Rs 3,200 crore range. We want to take that to about Rs 6,000 crore in three years.'

'We will grow at about 20% over the next few years'

'Private General insurers are poised to grow at 17 per cent - 18 per cent over the next 5 to 7 years and we will grow faster.'

Lower provisions drive ICICI Bank to report 18.5% growth in Q4

ICICI Bank on Saturday said its March quarter consolidated net profit grew 18.5 per cent to Rs 11,672 crore, helped by lower provisions. On a standalone basis, the second largest private sector lender showed a 17.4 per cent growth in...