January 4, 2015 8:12 AM

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Bankers should not be hauled up for their bonafide mistakes and Govt. needs to protect them: RBI Governor

Reserve Bank of India, RBI, Governor Raghuram Rajan has said that bankers should not be hauled up for their bonafide mistakes and the Government needs to protect them to fast-track financial decision making. Addressing a two-day bankers' retreat in Pune Saturday, he said if officers are hauled up for such decisions this would lead to delay in good decisions because of avoidance of risk. Echoing similar sentiments, Financial Services Secretary Hasmukh Adhia said that there is enough in the system itself to check any misdoing by bank officials. The RBI Governor also called for cleaning up bad debts of banks and restructures other possible NPAs within a year to put the economy back on track. He also favoured channelising full savings of the households into the financial system so that requisite resources for growth are made available.

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