 "Raghuram Rajan")
Over optimistic bankers, slowdown in government decision making process and moderation in economic growth mainly contributed to the mounting bad loans, said former RBI Governor Raghuram Rajan in a note to Parliamentary panel.
In a note to Chairman of Estimates Committee Murli Manohar Joshi, he said: "A variety of governance problems such as the suspect allocation of coal mines coupled with the fear of investigation slowed down government decision making in Delhi, both in the UPA and the subsequent NDA governments".
Project cost overruns escalated for stalled projects and they became increasingly unable to service debt, he said, adding the continuing travails
