JAIT­LEY ASKS BANKS NOT TO OVER­STATE BAD LOANS CRI­SIS

Hindustan Times ST (Mumbai) - HT Navi Mumbai Live - - FRONT PAGE - HT Correspondent let­ters@hin­dus­tan­times.com

NEW DELHI: Fi­nance min­is­ter Arun Jait­ley asked banks on Satur­day not to “over­state” the cri­sis of bad loans as that could de­rail lend­ing and hurt the econ­omy though he promised to look into in­di­vid­ual mis­de­meanour amid out­rage over the Rs7,000 crore de­fault by liquor baron Vi­jay Mallya.

“We don’t want to cre­ate a sit­u­a­tion where we over­state the cri­sis and in the process, the whole ac­tiv­ity of lend­ing for growth it­self starts suf­fer­ing be­cause peo­ple be­come ex­traor­di­nar­ily de­fen­sive,” Jait­ley said at a press con­fer­ence af­ter a post-bud­get meet­ing with the cen­tral board of RBI. “It’s that lim­ited cat­e­gory where there is some kind of a prima fa­cie mis­con­duct or mis­de­meanour which has taken place by the in­di­vid­ual... those ar­eas which will be looked into dif­fer­ently,” the fi­nance min­is­ter said.

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