Gurumurthy blamed the RBI for mandating one-shot provisioning (or setting aside funds) for bad loans. “NPA has been developing since 2009 and it peaked in 2014. At that time RBI did not say ‘you provide’ but in 2015 it said ‘you provide’. So, providing at one go is the problem. If they had said you provide over 5 years this wouldn’t have happened,” he said.
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