/Raghuram Rajan Blamed UPA Govt for NPA | Here What Twitter Had to Say!
Raghuram Rajan Blamed UPA Govt for NPA (1)

Raghuram Rajan Blamed UPA Govt for NPA | Here What Twitter Had to Say!

Twitter was taken by storm with multiple retweets and comments after Mr. Raghuram Rajan tweeted his stand on NPA’s (Non- performing Assets). Raghuram Rajan was the governor of RBI for 3 years till 2016.
He has blamed the UPA government for the NPA mess which caused some chaos in the banking system. According to him, delay in decision making by the UPA government was the reason for increasing NPA’s.

He said that he sent a list to Mr. Narendra Modi but he took no action, maybe it didn’t ring any bells with him. This disclosure was made by him in the 17 pages reply to the estimates committee of the parliament. His efforts to identify NPA’s and resolve this issue have been praised by Chief Economic Advisor, Arvind Subramanian. According to the reporting year, 2006-2008 saw the growth in bad loans and there was a rise in NPA’s.

He said that to stop NPA’s from growing the governance of public sector banks must be improved. The project must be evaluated and monitored properly to control non-performing assets.

A heads up is given by Raghuram Rajan regarding the Kisan Credit Cards as well as MUDRA loans. He says that both must be examined closely for any potential credit risk. He also said that credit guarantee scheme for MSME, run by SIDBI must be examined immediately as it is a growing liability.

Of course, this has gotten mixed reviews from many people including normal people as well as some ministers and public figures.

Here is what Twitter has to say, have a look-

 

 

 

 

 

 

 

 

 

 

 

 

 

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