Banks need to recognise an NPA when it happens, says YH Malegam
YH Malegam, country's finest chartered accountant and foremost financial expert, in an interview to CNBC-TV18’s Latha Venkatesh opens up on why banks are still struggling with non-performing assets (NPA). Along the way, he offers solutions on how to stop the loans from going bad.
YH Malegam, who could easily be called the country's finest chartered accountant and foremost financial expert, in an interview to CNBC-TV18’s Latha Venkatesh opens up on why banks are still struggling with non-performing assets (NPA). He also offers a number of solutions on how to fix the problem of bad loans. "I would suggest that they [banks] should concentrate more on cash flows. As far as possible they should lend in the form of loans rather than in the form of cash credits and overdrafts," says the former president of the Institute of Chartered Accountants of India. These are, however, only two of the five solutions he offers.
What should be the way forward especially for public sector banks?
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