Loan defaults spark Rangarajan-Ranjit Sinha debate; CBI boss - TopicsExpress

Loan defaults spark Rangarajan-Ranjit Sinha debate; CBI boss smells fraud in rising NPAs Source: Economic Times A plain-vanilla conference of PSU vigilance chiefs saw the unusual spectacle of two senior government officials openly disagreeing on the reason for the rising quantum of loan defaults. While CBI Director Ranjit Sinha on Wednesday pitched for fixing criminal accountability of public sector bank officials in case of loan defaults, he was contradicted by veteran economist C Rangarajan, who pointed out that the rise in non-performing assets of banks could also be on account of the grim state of the economy rather than frauds.

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