India RBI chief flags assets misreporting at banks

The Reserve Bank of India (RBI) Governor Shaktikanta Das: We have to bear in mind that risks often get overlooked or forgotten when things are going well.. — Reuters

MUMBAI: The Reserve Bank of India (RBI) has come across instances of some banks trying to conceal the real status of their stressed assets while governance gaps have also been noticed at certain lenders, according to its governor.

“During the course of our supervisory process, certain instances of using innovative ways to conceal the real status of stressed loans have also come to our notice,” Shaktikanta Das said during his inaugural address to directors of banks at a conference organised by the RBI.