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Raghuram Rajan says not clear if India needs a 'bad bank'

Raghuram Rajan says not clear if India needs a 'bad bank'

Raghuram Rajan, addressing an audience of bankers and industrialists, said he would favour adding capital to the country's cash-starved asset reconstruction companies, which aim to buy distressed assets from banks.

RBI governor Raghuram Rajan RBI governor Raghuram Rajan

Reserve Bank of India (RBI) Governor Raghuram Rajan said on Friday it is not clear India needs a so-called "bad bank" to deal with non-performing loans, adding it would be preferrable to push banks to clean up balance sheets themselves.

Rajan, addressing an audience of bankers and industrialists, said he would favour adding capital to the country's cash-starved asset reconstruction companies, which aim to buy distressed assets from banks.

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Turning to inflation, the RBI Governor said inflation figures which showed consumer inflation easing to a record low of 3.66 per cent in August were due to a favourable base effect. Without that, the consumer price index would likely have been in the mid-5 per cent range, he said.

(Reuters)

Published on: Sep 18, 2015, 1:01 PM IST
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