Raghuram asked to brief on NPAs
New Delhi: A parliamentary committee looking into the issue of mounting non-performing assets has asked former RBI governor Raghuram Rajan to appear before it and brief on the matter. The letter followed after Mr Subramanian credited Mr Rajan for identifying the problem.
New Delhi, Aug. 19: 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.
Mr Rajan was invited after former Chief Economic Advisor (CEA) Arvind Subramanian praised him before the Parliament’s Committee on estimates, headed by veteran BJP leader Murali Manohar Joshi, for identifying the NPA crisis and trying to resolve it.
Mr Joshi has written a letter to Mr Rajan asking to appear before the panel and brief the members on the issue of mounting NPAs, a source said.
Mr Rajan, who was RBI governor till September 2016, is currently the Katherine Dusak Miller Distinguished Service Professor of Finance at Chicago Booth School of Business.
The letter has been written to Mr Rajan after Mr Subramanian credited him for identifying the problem, the source said.
Mr Subramanian appeared before the panel last month as CEA and briefed it on the bad loans issue.
During his submission, he expressed scepticism over the handling of the NPAs and indicated that big-ticket loans by public sector banks were influenced. — PTI