RBI Governor optimistic about NPA resolution
As per sources, Patel, who appeared before the Parliamentary Panel on finance earlier in the day, was also quizzed about the amount of cash returned to the RBI in the wake of demonetisation
Reserve Bank of India (RBI) Governor Dr Urjit Patel said he was optimistic about resolving the crisis caused by non-performing assets (NPAs) and stressed loans.
As per sources, Patel, who appeared before the Parliamentary Panel on finance earlier in the day, was also quizzed about the amount of cash returned to the RBI in the wake of demonetisation.
The RBI Governor was summoned to appear before the former union minister Veerappa Moily-led panel to discuss various issues pertaining to the Indian economy.
Patel was reportedly slated to appear before the Committee on May 17 in the wake of recent banking scams and the issues caused by rising NPAs.
As per sources, the decision to summon Patel was taken during a Committee meeting held in April, which was attended by former Prime Minister Manmohan Singh and Moily, among others.
Further details are awaited.
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
DISCLAIMER: mid-day and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.
Did you know Narendra Modi once wanted to become a monk?