This is the message known to have been given by Mrs Arundhati Bhattacherjee Chairman SBI.
"Regarding the MUDRA . I need not reiterate the need to reach the target but at the same time please note that we don't want loans to go to undeserving borrowers & have another wave of NPAs hit us. The fact that it is a GOI target will not be considered as an excuse. We therefore need to work really hard to source good borrowers.
Please ensure compliance."
We appreciate the msg which is relevant to entire Banking Industry. There are few visionary Executves in the Banking Industry who forsee the future problems and come out openly with such guidance in the interest of Banking Industry and its employees. Please take all necessary steps to ensure that all deserving cases are financed after compliance of KYC, procedures and terms & conditions, there is no mad race to achieve targets for which pressure has already started building up.