|Raghuram Rajan’s mind is blaming the UPA government for NPAs|
He blamed the UPA government for the NPA disaster, which caused a bit of chaos in the banking system. According to him, the delay in making decisions by the UPA government was the reason for increasing the NPA.
He said he sent a list to Mr. Narendra Modi, but he did nothing, which perhaps did not sound. This revelation was made by him in the 17-page response to the parliamentary estimates committee. Their efforts to identify the NPA and solve this problem were praised by the chief economic advisor, Arvind Subramanian. According to the year of the report, 2006-2008 saw the growth of bad debts and an increase in the NPA.
He said that to prevent the NPA from increasing the governance of public sector banks it should be improved. The project must be properly assessed and monitored to control non-productive resources.
Raghuram Rajan publishes a notice on Kisan credit cards and MUDRA loans. He says that both should be carefully examined to detect any credit risks. He also said that the credit guarantee system for MIPYMES, managed by SIDBI, should be examined immediately as it is a growing responsibility.
Of course, this has received mixed criticism from many people, including ordinary people, as well as some ministers and public figures.