I doubt rating agencies' ability to spot misconduct by IL&FS: A K Pradhan

'What is the point in having ratings of double and triple-A if that doesn't give any comfort? You cannot depend on these ratings even for six months,' Pradhan

Kolkata-based United Bank of India is under the Reserve Bank’s Prompt Corrective Action (PCA) clamp, for having had too many loans turning bad. ASHOK KUMAR PRADHAN, its new managing director and chief executive officer, speaks to Namrata Acharya on what he intends to do and related issues. Edited excerpts: 

What is your vision for the next year, especially to come out of PCA?

We have already hit rock-bottom; things should improve from here. The major issue we now face is a capital constraint. We will adopt a ‘4CN’ approach — capital conservation, control and compliance, cost rationalisation, comfort of technology — and,