NPA problem of banks becomes 'serious', parliamentary committee remembers Raghuram Rajan
Monday - August 20, 2018 2:23 pm ,
Category : WTN SPECIAL
Parliamentary assessment committee demands Raghuram Rajan's 'suggestion' to protect against NPA's problem
AUG 20 (WTN) - The growing NPA problem of banks remains the biggest challenge for the Modi government. In the four and a half years of the Modi government, the NPAs of banks have given negative impact on the economy. It is being said that the parliamentary committee can take the suggestions of former RBI governor Raghuram Rajan to deal with the problem of NPA.
According to information received from the media, chairman of parliamentary assessment committee, Murli Manohar Joshi has asked former RBI Governor Raghuram Rajan to appear before the committee. Parliamentary committee is examining the deeper NPA crisis in the country. According to the information, Murli Manohar Joshi has written a letter to Raghuram Rajan on August 7 and expressed hope that Rajan will be present before the committee and will give his suggestions.
It is also being said that the assessment committee chairman Murli Manohar Joshi has also told Raghuram Rajan that if he can not appear before the committee due to the busyness, then he can send his views and suggestions in writing to the committee.
For your information, let you know that Raghuram Rajan's term as a Governor in Reserve Bank was completed in September 2016. But the Modi government did not take the initiative to increase his tenure, which was also widely criticized. Then Raghuram Rajan gave priority to research in university in US after the end of his tenure as the Governor of the Reserve Bank.
After Raghuram Rajan, Urjit Patel appointed the Governor of RBI. But it is being said that Patel has not been successful in tackling the NPA problem. According to information received from the media, the parliamentary assessment committee has full confidence in Raghuram Rajan's ability to deal with the problem of NPAs. It is being said that the committee wants to make a policy of working in the right direction for resolving the NPA problem by discussing with Raghuram Rajan.
Let you know that a few days ago, the chief economic advisor of the central government, Arvind Subramanyam, had given his side on the NPA before the committee. According to information received from the media, Subramaniam had told the committee that the credit of identifying the problem of NPA goes to former Governor Raghuram Rajan, and nobody knows better than him, that how this problem of NPA in the country has become so serious?
If the Modi government will have to resort to the advice of former RBI Governor Raghuram Rajan, on the basis of the recommendations of parliament's assessment committee, to know the measures to tackle the serious problem of NPA, it raises questions about the Modi government's decision. When the government shown no interest in giving Raghuram Rajan the second term, while Rajan claimed as an expert in dealing with NPA problems.
According to sources, it is said that Raghuram Rajan was not agreed on the verdict of demonetization of Prime Minister Narendra Modi, after that the Modi government had not shown any interest in Rajan for becoming him the governor of RBI for the second time. But now that the problem of NPA is becoming serious in the country, in such a situation, if the Modi government follows Raghuram Rajan's advice on the basis of the suggestion of the parliamentary committee, then questions will arise, if Raghuram Rajan's capacity had recognized by the Modi government, then today the NPA problem would have not been become serious.
AUG 20 (WTN) - The growing NPA problem of banks remains the biggest challenge for the Modi government. In the four and a half years of the Modi government, the NPAs of banks have given negative impact on the economy. It is being said that the parliamentary committee can take the suggestions of former RBI governor Raghuram Rajan to deal with the problem of NPA.
According to information received from the media, chairman of parliamentary assessment committee, Murli Manohar Joshi has asked former RBI Governor Raghuram Rajan to appear before the committee. Parliamentary committee is examining the deeper NPA crisis in the country. According to the information, Murli Manohar Joshi has written a letter to Raghuram Rajan on August 7 and expressed hope that Rajan will be present before the committee and will give his suggestions.
It is also being said that the assessment committee chairman Murli Manohar Joshi has also told Raghuram Rajan that if he can not appear before the committee due to the busyness, then he can send his views and suggestions in writing to the committee.
For your information, let you know that Raghuram Rajan's term as a Governor in Reserve Bank was completed in September 2016. But the Modi government did not take the initiative to increase his tenure, which was also widely criticized. Then Raghuram Rajan gave priority to research in university in US after the end of his tenure as the Governor of the Reserve Bank.
After Raghuram Rajan, Urjit Patel appointed the Governor of RBI. But it is being said that Patel has not been successful in tackling the NPA problem. According to information received from the media, the parliamentary assessment committee has full confidence in Raghuram Rajan's ability to deal with the problem of NPAs. It is being said that the committee wants to make a policy of working in the right direction for resolving the NPA problem by discussing with Raghuram Rajan.
Let you know that a few days ago, the chief economic advisor of the central government, Arvind Subramanyam, had given his side on the NPA before the committee. According to information received from the media, Subramaniam had told the committee that the credit of identifying the problem of NPA goes to former Governor Raghuram Rajan, and nobody knows better than him, that how this problem of NPA in the country has become so serious?
If the Modi government will have to resort to the advice of former RBI Governor Raghuram Rajan, on the basis of the recommendations of parliament's assessment committee, to know the measures to tackle the serious problem of NPA, it raises questions about the Modi government's decision. When the government shown no interest in giving Raghuram Rajan the second term, while Rajan claimed as an expert in dealing with NPA problems.
According to sources, it is said that Raghuram Rajan was not agreed on the verdict of demonetization of Prime Minister Narendra Modi, after that the Modi government had not shown any interest in Rajan for becoming him the governor of RBI for the second time. But now that the problem of NPA is becoming serious in the country, in such a situation, if the Modi government follows Raghuram Rajan's advice on the basis of the suggestion of the parliamentary committee, then questions will arise, if Raghuram Rajan's capacity had recognized by the Modi government, then today the NPA problem would have not been become serious.
