RBI calls for protector for bankers to fast-track financial decision making

Reserve Bank of India (RBI) Governor Raghuram Rajan called for the government to afford greater protection to bankers, stating that such a step will be necessary in order to fast-track financial decision making.

"If officers are hauled up for [fast-track financial] decisions, it will lead to delay in good decisions because of avoidance of risk on the part of the banker," Rajan said while addressing a two-day bankers' retreat here.

Rajan further called for the cleaning up of bad debts of banks and the restructuring of other possible non-performing assets (NPAs) within a year in order to put the economy back on track.

The RBI Governor also favoured the channelizing of full savings of households into the financial system so that requisite resources for growth are made available.