NABARD has requested RCS of all states to provide chartered accountants for conducting statutory audit of StCBs / DCCBs. We come across large divergence between audited financial parameters and that assessed by NABARD, particularly in respect of reporting of NPAs and provisioning.
Some of these sales were at substantial concessions to entice buyers to accept substantial risk. Whether done as part of the original credit decision or in response to changing conditions, these transactions represent a new paradigm of active credit management and are a major part of the explanation of the banking system’s strength during the most recent period of stress.