The status of public sector banks in India today
Since RBI's asset quality review in second half of FY16, public sector banks have recorded close to 1.7 trillion in losses and almost 9 trillion in NPAs
Media reports say the parliamentary committee on estimates, headed by Murli Manohar Joshi, has invited former Reserve Bank of India (RBI) governor Raghuram Rajan to brief it on the mounting non-performing assets (NPAs) of Indian banks. The invitation follows former chief economic adviser Arvind Subramanian’s praise for Rajan’s role in identifying the problem and taking steps to address it, before the committee. It is seeking Rajan’s views on the “crisis" —how it has been created and how it should be tackled.