........Takru, who is on the board of the bank as government nominee, also said it is wrong to blame the high bad assets in state-run banks to corrupt and lax practices in the loan appraisal process and ruled out changing the existing laws and procedures of working of banks. "What has happened is most unfortunate. SBI has come out with their own internal committee and we expect the report of the committee by weekend," he told reporters after a meeting at the Reserve Bank of India (RBI)...............
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1 comment:
What surprises me is when a Committee was expected to sanction all loans beyond INR10mn, how could this loan of INR4000mn is sanctioned by a Dy.MD with two other cronies? Something is fishy and I am sure the internal probe committee would reveal it all. The rising NPAs reflect however faulty credit risk management practices although blame is invariably put in pocket of low growth and global impacts.
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