RBI Deputy Governor Advises Banks to Disclose more Information

Reserve Bank of India Deputy Governor NS Vishwanathan said that banks should not hide bad loans, fraud and all these losses.
RBI Deputy Governor Advises Banks to Disclose more Information

Reserve Bank of India Deputy Governor NS Vishwanathan has advised that banks should give more and more information about bad loans, frauds and losses. NS Vishwanathan says that if banks do not disclose them on time, then the risk of taking the risk will decrease. Along with this, he also informed that new rules are being implemented on corporate governance for banks globally.

Vishwanathan said, "The Basel Committee (where bankers around the world discuss strategies) has a framework on corporate governance, we are working to make it better." NS Vishwanathan further said Such incidents have occurred in the NPAs of several banks have been revealed in the inspection of the Reserve Bank. In such a situation, banks have to think beyond the rules of regulatory to take care of their health. Along with this, banks should give maximum information on NPAs, bad loans and other parameters.

95,700 crore fraud with banks in 6 months

This statement of the Deputy Governor of RBI has come at a time when the figures of fraud of banks have been released. Recently, Finance Minister Nirmala Sitharaman has told the house that more than Rs 95,700 crore fraud has been done with banks in just 6 months.

However, the Finance Minister also says that comprehensive measures have been taken to prevent incidents of fraud in banks. Under this, bank accounts of 3.38 lakh inactive companies have been banned. But despite all efforts of the government, non-performing assets (NPAs) of banks are increasing.

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