Public sector banking must see material reforms at an institutional level with quick resolution for large stressed accounts, to preserve the daily erosion of value of assets under insolvency and bankruptcy code (IBC), according to a senior executive at HSBC.
In an interview with Moneycontrol, Rajat Verma, Managing Director and Head corporate banking, commercial banking India, HSBC, said the share of PSBs in large corporate lending will come down over next 5 years and HSBC will enhance its focus on growing the small and medium enterprise (SME) portfolio, which is currently about 20 percent of the commercial lending book.
Verma spoke about how the Rs 12,700 crore fraud at Punjab National Bank is an issue of not having th…
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