Letter to BS: RBI should revisit audit of all banks and flag bad assets

In all the cases involving failure of banks, it is the common man who has to go through unwarranted stress.

“Yes Bank rescue: India’s TARP moment?” by Tamal Ban­dyo­padhyay (March 9) made an in­teresting read. One observation in the article sta­nds out: “Over the past year, whenever a new large bad asset surfaced in ban­king system, Yes Bank has been ex­posed to it.” This is one area that needs to be explored. There has been re­ports of risky asset cases being approved for large fees upfront, being shown as income. This source of in­come helped shore up the bottom line in the previous years.
 
Usually, auditors are very strict when it comes to ad­van­ces. But when it comes to