Former RBI governor Raghuram Rajan reasons delay in probes during UPA govt. behind increase in NPA

Reserve Bank of India former Governor Raghuram Rajan on Monday reacted to the mounting bad loans of banks and said that the slowdown in the process of investigation in scams and decision making in the previous UPA government led to the increase in NPA (non-performing asset) of banks.<br />In a note to parliamentary panel, he said that the years 2006-2008 saw originating of most of the bad loans, despite the economic growth being strong at that time. Previous infrastructure projects such as power plants had been completed within budget and on time.

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