Over-optimistic bankers responsible for bad loans: Rajan
Former RBI Governor Raghuram Rajan has blamed over-optimistic bankers, growth slowdown, and slow decision-making by governments for bad loan crisis. He added that a larger number of bad loans originated between 2006 and 2008 when economic growth was strong. "It is at such times that banks make mistakes. They extrapolate past growth and performance to the future," Rajan further said.