Raghuram Rajan's solution to tackling NPA crisis. Read his full letter

Both MUDRA loans as well as the Kisan Credit Card, while popular, have to be examined more closely for potential credit risk and to avoid recurrence of crisis, says former RBI governor Raghuram Rajan

Former RBI governor Raghuram Rajan's letter on NPAs to the Parliamentary Estimates Committee brought the Bhartiya Janata Party (BJP) and Congress to the political battleground on Tuesday, as they got engaged in a slugfest to defend economic policies of their government.

In his letter to the parliamentary panel, Rajan explained with great detail the NPA crisis in the country and prescribed a closer examination of Mudra loans and Kisan Credit Cards to prevent an NPA crisis in the future.

The Parliamentary Estimates Committee, which is headed by senior Bharatiya Janata Party (BJP) leader Murli Manohar Joshi, had sought Rajan’s views