Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2018        Go!    
 
 
September 24, Monday 2018 12:21 AM       

       HEADLINES: Franco Mulackal should be subjected to lie detector test, says police                                              Fr. Mathew Manavath raises allegation against Kerala BJP                                              Body of toddler found                                              Bishop brought to Kuruvilangad convent, evidence collected                                              CM reaches office                                              PM Modi to launch Ayushman Bharat today                                              PM to inaugurate Sikkim's first airport Monday                                              Japanese supply ship heads to space station after delays                                              Russia warns US it is 'playing with fire' with sanctions                                              Pak PM Imran hits out at India, calls its response "arrogant" for cancelling talks                                              Gavaskar impressed with Rohit Sharma's captaincy                                              Hasan, Asghar, Rashid fined 15 per cent of their match fees                                              Kaumudi Facebook
       BUSINESS Next Article: Modi govt needs to shed 'obsession' with economic growth: Jean Dreze  
       Set up central agency to evaluate big loan proposals: ICAI
 
         Posted on :22:19:36 Jul 8, 2018
   
A A
       Last edited on:22:19:36 Jul 8, 2018
         Tags: central agency, evaluate big loan proposals,
 
New Delhi: Cost accountants' apex body ICAI has suggested constituting a central agency, with cost accountants and experts from other fields, to evaluate applications for large loans before banks give their approval.
 
The suggestion comes at a time when the country's banking system is grappling with mounting sour loans and authorities are working on multi-pronged strategies to deal with the NPA menace.
 
For appraisal of the big loan proposals that the banks get, the finance ministry should look at constituting a central agency, ICAI President Sanjay Gupta told PTI Bhasha.
 
The agency will carry out cost evaluation of the loan proposals as well as audit the efficiency of the projects concerned, he added.
 
In an interview, he said the agency can have cost accountants and experts from other fields.
 
The non-performing assets (NPAs) in the banking sector crossed Rs 9 lakh crore at end-December 2017 and the Reserve Bank of India has warned of further worsening of the situation.
 
According to Gupta, the big banks have better means for research and development and they can better evaluate the loan proposals.
 
However, there are several small banks that do not have proper means to appraise them, he said, adding that in such cases, a central agency to look at the loan proposals will play a better role.
 
"When a project is fully funded by the banks using money which belongs to the people, then why should there be any secrecy from the side of the companies with regard to evaluation? There should be complete transparency in it," Gupta said.
 
The Institute of Cost Accountants of India (ICAI) represents cost accountants
A A
       BUSINESS
Next Article: Modi govt needs to shed 'obsession' with economic growth: Jean Dreze
 
 
BUSINESS HEADLINES
Fed rate decision, rupee, crude oil to drive markets this week: Experts  
"RBI unlikely to hike repo rate in Oct despite weak INR"  
OYO to hire over 2,000 tech experts, engineers by 2020  
Sensex ends in red after 1,000-pt flash crash  
OYO to hire over 2,000 tech experts, engineers by 2020  
Avis India announces free doorstep delivery, collection of self-drive cars  
Dena Bank surges 20%; BoB tumbles 14% post merger announcement  
Vijaya Bank, Dena Bank, BoB to merge: Govt  
Mother Dairy won't cut prices despite Patanjali's cheaper cow milk  
Union Bank of India exits Antwerp diamond market  
Naidu discusses bilateral cooperation in trade and defence with Serbian President  
FundzBazar crosses 2 lakh investors milestone  
Ramdev Baba’s Patanjali launches cow milk, french fries and more  
United Bank of India increases MCLR by five basis points  
RBI submitted a list of high profile fraud cases to PMO: Rajan  
Chemists call for strike on Sep28 against online medicine sale  
Rupee sinks to new low of 72.91, drops 22 paise against USD  
Skills and You develops special module 'Curio'  
Google ready to comply with RBI norms for payment services, says official  
FinMin in touch with RBI for market intervention to contain rupee value  
Sensex plunges over 400 pts as rupee breaches 72.50 mark  
Niti Aayog asks auto cos to stick to timeline to achieve full e-mobility  
FastFox registers 3x growth post rollout of revolutionary 'Open House' model  
Jio completes two years, aims to take India to 'top 5' in broadband connectivity  
Gold rises 0.46% on positive global cues  
 
Do you agree with Rahul's allegation against Modi over Rafale deal?
yes
 
no
 
no opinion
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy