Not acting on unsecured lending could have created bigger problem: Das ...Middle East

Business Standard - Economy
Not acting on unsecured lending could have created bigger problem: Das
source : Business Standard ( Middle East ) () 41
RBI Governor Shaktikanta Das on Thursday said not acting on unsecured lending could have created a "bigger problem", and RBI's actions on such practices have had the desired impact of slowing down growth in the riskier segment. Addressing an international conference on financial resilience at the RBI's College of Supervisors here, Das said restrictions on unsecured lending were the result of a view that there could be a potential problem in the credit market because of growth in unsecured lending. The overall headline parameters were looking good, but there was "clear evidence" of dilution of underwriting standards, lack of proper appraisals and a mentality to join the bandwagon for driving

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