Worried over rising bad loans at some banks, RBI Governor Raghuram Rajan said there was no danger of any financial crisis but it may be early to declare that the worst was over on the NPA front, PTI reported.
"I would be more confident when there will be a uniform sort of series of results across the banks," Rajan said.
He, however, sought to undermine the concerns, saying, "if the question is whether are we in the danger of a financial crisis? The answer is no!"
He further said that he is more worried about the losses to taxpayers and the effects on banks' functioning due to their rising bad loan levels.
The Governor said resolution of NPAs will be possible only with higher economic growth, which he termed as "slow" and the actions which the banks take.
It can be noted that bad loans are on the rise and none of the banks in FY14 have reported any major improvement on the asset quality side.