Bad loans still a worry, says Rajan

BENAULIM (GOA): Highlighting concerns over rising bad loans at some banks, RBI governor Raghuram Rajan on Thursday said there was no danger of any financial crisis but it may be early to declare that the worst was over on the non-performing asset (NPA) front. “I would not be prepared to make that statement today, only because you see a variety of problems. Some banks have managed to bring down their bad loan positions, for others it is still increasing,” Rajan said. “I would be more confident when there will be a uniform sort of series of results across the banks,” Rajan told reporters after a central board meeting of the RBI here. He, however, sought to undermine the concerns, saying, “If the question is are we in the danger of a financial crisis? The answer is no!”