New Delhi
There is a new twist to the British economist John Keanes’ famous quote that ‘it is your problem if you owe a hundred bucks to a bank, but it is the bank’s problem if you owe a million’ the problem is of the central banker if unpaid loans run into billions. And to clear this ‘landmine’, which has been blamed on the previous UPA regime by PM Narendra Modi, RBI Governor Urjit Patel, who has completed two years, decided to follow “wisdom of an owl” as he went on to conduct the “deep surgery” initiated by his predecessor Raghuram Rajan to clamp down on loan defaulters.