How To Tackle Npas? His Holiness Has The Clue

What does His Holiness Shri Jayendra Saraswati Sankaracharya Swamigal of Kanchi Kamakoti Peetam have in common with Crisil chief R Ravimohan, former National Stock Exchange managing director RH Patil and Bank of Baroda chairman-cum-managing director PS Shenoy?

The Sankaracharya is going to present to these financial sector stalwarts his solution for the problem of rising non-performing assets (NPAs) of banks and financial institutions. These are institutions that could do with some divine blessing.

His Holiness will share the podium with Ravimohan, Patil and Shenoy in Mumbai on December 31 at a seminar on converting unproductive assets to wealth and give his views on sick industries and rising NPAs.

The regulators are also expected to be present. Reserve Bank of India governor Bimal Jalan and Securities and Exchange Board of India chairman D R Mehta as well as CEOs of banks and financial institutions have been invited to join the seminar where His Holiness will discuss the sorry state of affairs of the financial sector. Industrial slowdown and tardy credit offtake will feature in the discussions.