Raghuram Rajan Bad Loans

Finance Minister Nirmala Sitharaman has turned the tables on her macroeconomics opponents by pointing at a massive amount of bad loans in state-run banks when the United Progressive Alliance (UPA) was in power. She held "the combination" of former Prime Minister Manmohan Singh and former Reserve Bank of India Governor Raghuram Rajan responsible for...

The Prime Minister's Office (PMO) has termed as a "roving enquiry" an RTI plea seeking to know details of bad loans submitted by the then RBI Governor Raghuram Rajan to it and which finds mention in his response to Parliament's Committee on Estimates.

Former RBI governor Raghuram Rajan has said in his report to a parliamentary panel that he said a list of high profile fraud cases to the Prime Minister's Office but was "not aware of any progress" on it.

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.

A parliamentary committee looking into the issue of mounting non-performing assets (NPAs) has asked former RBI Governor Raghuram Rajan to appear before it and brief on the matter.

Resolutions of bad loans stalled because banks weren't able to agree on write downs while company founders balked at renegotiating loan terms that included losing control of their firms.

At present there seems to be a consensus building up on the need of creating a government owned bad bank, though the former governor of Reserve Bank Of India, Raghuram Rajan was not in favour of such an entity.

Adding to Indian banks' woes, data shows another Rs 1.93 lakh crore ($29 billion) worth of loans as of June that were not yet classified as "stressed" but on which borrowers are more than 60 days behind on interest or principal payments, putting those at high risk of becoming non-performing loans.

The Reserve Bank of India's outgoing governor Raghuram Rajan has warned lenders against "unrealistic application" of stressed asset resolution schemes to postpone recognition of non-performing assets (NPAs).

One of the biggest challenges for the incoming central bank chief is a problem he and his predecessor have long grappled with - how to spur stubborn state banks to cut borrowing costs more aggressively to boost the economy.

Reserve Bank of India Governor Raghuram Rajan on Tuesday said he is comfortable with the stressed assets recognition process undertaken by the lenders in the process of cleaning up their balance sheets.

Admitting that the "action or inaction" of RBI during his tenure could have been among reasons for the present bad loan crisis, former governor D Subbarao said he should have addressed those issues.

Outgoing RBI Governor Raghuram Rajan, who has ruffled industry for his strident bid to get the bank balance-sheets cleaned up, on Tuesday admitted that the central bank should have carried out this exercise earlier.

Amid a clamour among bankers for immunity from action by agencies like Central Bureau of Investigation (CBI) and Central Vigilance Commission (CVC), RBI Governor Raghuram Rajan has disapproved of any "blanket sort of relief" but wants the decisions on loans given after appropriate due diligence to be protected.

Stressing on need to continue with sound domestic policies and reforms, RBI Governor Raghuram Rajan on Tuesday said banks' asset quality stress has to be dealt first in order to revive the credit growth.

Finance Minister Nirmala Sitharaman has turned the tables on her macroeconomics opponents by pointing at a massive amount of bad loans in state-run banks when the United Progressive Alliance (UPA) was in power. She held "the combination" of former Prime Minister Manmohan Singh and former Reserve Bank of India Governor Raghuram Rajan responsible for...

The Prime Minister's Office (PMO) has termed as a "roving enquiry" an RTI plea seeking to know details of bad loans submitted by the then RBI Governor Raghuram Rajan to it and which finds mention in his response to Parliament's Committee on Estimates.

Former RBI governor Raghuram Rajan has said in his report to a parliamentary panel that he said a list of high profile fraud cases to the Prime Minister's Office but was "not aware of any progress" on it.

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.

A parliamentary committee looking into the issue of mounting non-performing assets (NPAs) has asked former RBI Governor Raghuram Rajan to appear before it and brief on the matter.

Resolutions of bad loans stalled because banks weren't able to agree on write downs while company founders balked at renegotiating loan terms that included losing control of their firms.

At present there seems to be a consensus building up on the need of creating a government owned bad bank, though the former governor of Reserve Bank Of India, Raghuram Rajan was not in favour of such an entity.

Adding to Indian banks' woes, data shows another Rs 1.93 lakh crore ($29 billion) worth of loans as of June that were not yet classified as "stressed" but on which borrowers are more than 60 days behind on interest or principal payments, putting those at high risk of becoming non-performing loans.

The Reserve Bank of India's outgoing governor Raghuram Rajan has warned lenders against "unrealistic application" of stressed asset resolution schemes to postpone recognition of non-performing assets (NPAs).

One of the biggest challenges for the incoming central bank chief is a problem he and his predecessor have long grappled with - how to spur stubborn state banks to cut borrowing costs more aggressively to boost the economy.

Reserve Bank of India Governor Raghuram Rajan on Tuesday said he is comfortable with the stressed assets recognition process undertaken by the lenders in the process of cleaning up their balance sheets.

Admitting that the "action or inaction" of RBI during his tenure could have been among reasons for the present bad loan crisis, former governor D Subbarao said he should have addressed those issues.

Outgoing RBI Governor Raghuram Rajan, who has ruffled industry for his strident bid to get the bank balance-sheets cleaned up, on Tuesday admitted that the central bank should have carried out this exercise earlier.

Amid a clamour among bankers for immunity from action by agencies like Central Bureau of Investigation (CBI) and Central Vigilance Commission (CVC), RBI Governor Raghuram Rajan has disapproved of any "blanket sort of relief" but wants the decisions on loans given after appropriate due diligence to be protected.

Stressing on need to continue with sound domestic policies and reforms, RBI Governor Raghuram Rajan on Tuesday said banks' asset quality stress has to be dealt first in order to revive the credit growth.