Reserve Bank of India (RBI) Governor Shaktikanta Das on Monday cautioned banks against aggressive growth strategies and the evergreening of loans, while also urging them not to allow any gaps in governance to creep in.
Addressing the board members of public and private sector banks, Das said it was found that some banks were resorting to "innovative" ways to conceal the status of their loans during supervisory processes, and "one method of evergreening was replaced by another" after being pointed out.
"Such practices beg the question as to whose interest such smart methods serve. I have mentioned these instances to sensitise all of you to keep a watch on such practices," Das said. He was discussing his 10-point charter, focusing on the soundness of the banking system and corporate governance, with the bank boards.
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