The Poster Boy of Bad Loans
The king of good times who fled to UK after his Kingfisher Airlines fiasco has been finally arrested by the UK police Though the reason for arrest is not very clear, it could be for all you know a beginning of the extradition process for deporting Vijay Mallya Vijay Mallya who fled to London around last year in search of Achhe-Din may finally be back. Since the time he defaulted on bank loans amounting to over 9000 crores and fled to UK the battle between this flamboyant businessman and the PSU banks has become a classic example of idiom: Closing the stable door after the horse has bolted. Reviewing the huge quantum of Indian Banks Non Performing Assets (NPA) the Ex Reserve Bank Governor Raghuram Rajan had suggested during his tenure that the Govt should go after corrupt Bank management as well as corrupt Promoters. However his suggestion was never put on fast track instead he lost his second term for RBI governorship. SBI started cleaning up their balance she