In his book, former RBI Governor Viral Acharya has pointed out considerable data concerning loan defaulters. With the Covid-19 pandemic disrupting global economies, including India’s own, all eyes are on the Reserve Bank of India.
The RBI predicts that NPAs could rise from the earlier 8.5 per cent to 14.7 per cent. In August of last year, Finance Minister Nirmala Sitharaman had announced the amalgamation of ten public sector banks (PSBs) into four big banks in an effort to shore up the banking sector.
Former RBI Deputy Governor Viral Acharya and other experts join India Today Television to share their views on the Indian economy in light of the novel coronavirus crisis.