Noting that banking is done based on trust and good faith, State Bank of India Chairman Rajnish Kumar said that one of the biggest learnings from the recent developments such as DHFL and PMC Bank is how lenders monitor the end-use of funds and check diversion of funds.
“One of the most difficult aspects, whether it is for Dewan Housing Finance Corporation Ltd (DHFL) or any other corporate is that banks themselves have not been able to check the diversion of funds. It has emerged as a big problem,” he said, adding that banks have to find a way to do it.
This story is from the December 03, 2019 edition of The Hindu Business Line.
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This story is from the December 03, 2019 edition of The Hindu Business Line.
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