"We have no magic wand to bring the bank back on track. The bank people have to work hard," he told reporters on the sidelines of an event.
Chakrabarty, as per the media reports, further said the staff of the Kolkata-based lender, which has been facing a slew of problems after its gross NPAs crossed 11 per cent in the December quarter, have to focus on improving asset quality, reduce operating expenses and mobilise more business. "We are only asking them to do good business," Chakrabarty said.
The RBI had on Tuesday appointed its chief general manager Parvathy V Sundaram, who is reportedly an expert on detecting frauds, on the UBI board. In the past, it also ordered special audits at the state-run bank.
Speaking to reporters, Chakrabarty said: "Once you declare NPAs, the basic lesson is very clear: don't hide NPAs, recover them."